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You have an eccentric aunt who has promised to deposit $7,500 in a savings account in your name. She has stated that you will

 

You have an eccentric aunt who has promised to deposit $7,500 in a savings account in your name. She has stated that you will not have access to the money for four years but that the money will be earning 7% interest. At the designated future date, the principal and interest will be yours to purchase a new car. First gather the relevant data by completing the following table. Present Value: Period: Rate of Interest: $ % years

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