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If You Want to Purchase a New Sailboat in Two

Question 3

Multiple Choice

If you want to purchase a new sailboat in two years for $9,000, how much would you presently need to have in your bank account to have $9,000 in two years? Assume your bank account pays 3 percent interest.


A) $8,484
B) $8,613
C) $8,738
D) $8,822

Correct Answer:

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