Multiple Choice
How much must be deposited today in an account earning 6% annually to accumulate a 20% down payment to use in purchasing a car one year from now, assuming that the car's current price is $20,000, and inflation will be 4%?
A) $3,774.61
B) $3,782.20
C) $3,924.53
D) $4,080.08
Correct Answer:
Verified
Correct Answer:
Verified
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