Stephen plans to purchase a car 7 years from now the car, Ask an Expert

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Stephen plans to purchase a car 7 years from now. The car will cost $65,687 at that time. Assume that Stephen can earn 4.69 percent (compounded monthly) on his money. How much should he set aside today for the purchase?

Round answer to two decimal places.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91270861

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