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You would like to purchase a car when you graduate from college in three years, and you would like to pay with cash. If you

You would like to purchase a car when you graduate from college in three years, and you would like to pay with cash. If you expect to pay $19,000 for a used vehicle, how much should you deposit now if your bank compounds interest quarterly at an annual interest rate of 4.20%? a. $16,761.69 b. $16,587.52 c. $18,222.52 d. $16,937.69

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