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What lump sum must he invest now

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Reference no: EM13962120

a) At the end of three years, when you graduate from college, your father has promised to give you a used car that will cost $12,000. 

Required: 

1. What lump sum must he invest now to have the $12,000 at the end of three years if he can invest money at?

a. Six percent? 
b. Ten percent?

Reference no: EM13962120

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