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You plan to buy a boat in 9 years for $29,000. If interest rates are running 7% annually, calculate how much you need to put
You plan to buy a boat in 9 years for $29,000. If interest rates are running 7% annually, calculate how much you need to put away each year using the following methods: a. Long-hand formula (Do not round intermediate calculations. Round final answer to 2 decimal places.) b. Reference table. Use Table A-3. (Round final answer to 2 decimal places.) Annual savings c. Financial calculator (Round your answer to 2 decimal places.)
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