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In order to have money available for replacing their family vehicle, a couple planned to have $100,000 available in 6 years by investing in global mutual fund. If they plan to decrease their savings by 10% each year for 6 years (i.e., a total of six cash flows), how much must they invest in year l if they expect to earn 10% per year on their investments?

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Financial Management, Finance

Category:- Financial Management
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