Deposited in an account, How much must be deposited today

Deposited in an account

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Reference no: EM13726316

How much must be deposited today in an account earning 8% annually to accumulate a 25% down payment to use in purchasing a car one year from now, assuming that the car's current price is $40,000, and inflation will be 5%?

Reference no: EM13726316

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