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. You plan to buy a Ferrari sports car in 5 years. Your dream model costs $225,000 now and you expected the price to go
. You plan to buy a Ferrari sports car in 5 years. Your dream model costs $225,000 now and you expected the price to go up 10% per year. To get your dream car, you plan to make a monthly saving starting one month from now for 60 monthly savings. How much do you need to save each month in order to buy the car in 5 years, assuming that the interest rate is 6% (find the answer that is closet to your solution). A. $64,282 B. $5,357 C. $5,194 D. $3,750
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