Multiple Choice
Suppose you are committed to owning a $140,000 Ferrari.You believe your mutual fund can achieve an annual rate of return of 8 percent and you want to buy the car in 7 years.How much must you invest today to fund this purchase assuming the price of the car remains constant?
A) $74,208.16
B) $81,688.66
C) $87,911.08
D) $98,019.82
E) $99,446.60
Correct Answer:
Verified
Correct Answer:
Verified
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