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Accounting

Problem:

Jack Robbins is saving for a new car. He needs to have $ 21,000 for the car in three years.

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Question: How much will he have to invest today in an account paying 8 percent annually to achieve his target? (Round to nearest dollar.)

$19,444
$22,680
$16,670
$26,454

Note: Please show guided help with steps and answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91171497

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