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You need $100,000 to purchase a new car. Your advisor informs you that you can get an APR of 4% compounded monthly. Since you have a bunch of other bills to keep up with, you can commit $150 each month to your dream car. If you want to buy this car in 18 years, how much should you invest for the remaining 13 years to reach $100,000?

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Financial Management, Finance

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