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Casey Cohen Would Like to Have $24,500 in 5 Years

Question 51

Essay

Casey Cohen would like to have $24,500 in 5 years time to buy a car.The amount that Cohen would have to invest today,assuming an interest rate of 4% compounded annually,in order to reach his goal is:

Correct Answer:

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FV = $24,500; r = 4%...

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