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How much do you need to invest today

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Reference no: EM133272824

Suppose you need $10,000 in one year for the down payment on a new car. If you can earn 7% annually, how much do you need to invest today?

• Formula Approach

• PV = 10,000 / (1.07)1 = 9345.79

• Calculator Approach

• 1N

• 7I/Y

10,000 FV

CPT PV = -9345.79

Reference no: EM133272824

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