How much should he set aside today for the purchase

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Reference no: EM13811532

Stephen plans to purchase a car 3 years from now. The car will cost $45,148 at that time. Assume that Stephen can earn 9.95 percent (compounded monthly) on his money. How much should he set aside today for the purchase?

Round the answer to two decimal places.

Reference no: EM13811532

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