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Question: 11 points value a the cost ot a new automobile...

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11 points value a. The cost ot a new automobile is $11,500 It the interest rate is 8%, how much would you have to set aside now to provide this sum in eight years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value 6216.20 b. You have to pay $10,000 a year in school fees at the end of each of the next nine years, if the interest rate is 11%, how much do you need to set aside today to cover these bills? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Present value I С You have invested $90 000 at 11%. A er paying the above sch00 fees, how much would remain at the end ofthe nine years? o no round intermediate calculat ns. Round o rans vero decimal places.) Future value ReferenceseBook & Resources

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