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Kelly Kuhn Wants to Purchase a New Car for Her

Question 108

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Kelly Kuhn wants to purchase a new car for her son in five years. She estimates that the truck will cost $30,000 after all rebates. Assuming she invests at 8% compounded semiannually for five years, what must she invest today?

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8% / 2 = 4%, 5 × 2 =...

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