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How much do need to save every month to purchase car

Assignment Help Managerial Accounting
Reference no: EM132515187

Question 1: You plan on buying a fancy new Honda Accord in four years. With your specific design decisions, it will cost about $40,000. You plan on saving for it monthly in order to pay cash when you purchase the car. If you have an investment opportunity that will return 3.6%APR compounded monthly over the next four years, how much do you need to save every month to purchase the car?

Reference no: EM132515187

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