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Annuities and sinking funds

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ANNUITIES AND SINKING FUNDS

If the inflation rate stays at 6% per year for the next five years, how much will the price be of a $15,000 car in five years? How much must you save at the end of each month at an interest rate of 7.3% compounded monthly to buy that car in 5 years?

Reference no: EM131909262

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