You want to have $45,000 in cash to buy a car 4 years from today.You expect to earn 4.5 percent,compounded annually,on your savings.How much do you need to deposit today if this is the only money you save for this purpose?
A) $33,618.92
B) $34,511.68
C) $35,726.04
D) $37,735.26
E) $38,156.19
Correct Answer:
Verified
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