How much to invest in family vehical

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Reference no: EM13177711

In order to have money available for replacing their family vehicle, a couple planned to have $220,000 available in 10 years by investing. If they plan to increase their savings by 10% each year, how much must they invest in year 1 if they expect to earn 10% per year on their investment?

Reference no: EM13177711

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