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You plan to give your child a new car for her graduation in 18 months. The car costs $23,000 How much must you invest today

You plan to give your child a new car for her graduation in 18 months. The car costs $23,000 How much must you invest today in an account that earns 2.45% APR (compounded monthly) to exactly pay for the car?

Calculate your answer to the nearest dollar.

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