You save money to buy a sailboat and to get the money together you have chosen to
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Question:
You save money to buy a sailboat and to get the money together you have chosen to save monthly. In one month you expect to save SEK 3,500, in two months you expect to save SEK 1980 and after that you will save a fixed amount of SEK 3,300 every month. On your savings capital, you expect an annual return of 3.66% and you have calculated that it will take you exactly 4 years and 7 months from today until you can buy the boat. How much does the sailboat cost?
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