Solved: How much will they have to set aside each year to have, Financial Management

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How much will they have to set aside each year to have

The Wintergreens are planning ahead for their son's education. He's eight now and will start college in 10 years.

How much will they have to set aside each year to have $65,000 when he starts if the interest rate is 7.4%? Round the answer to 2 decimal places.

Harry Clements would like to buy a new car. He can afford payments of $750 a month.

The bank makes four-year car loans at 12% compounded monthly. How much can Harry borrow toward a new car? Round the answer to the nearest dollar.

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Financial Management: How much will they have to set aside each year to have

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