Suppose you are committed to owning a 190000 ferrari if you


Suppose you are committed to owning a $190,000 Ferrari. If you believe your mutual fund can achieve a 12 percent annual rate of return and you want to buy the car in 9 years on the day you turn 30, how much must you invest today?

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Finance Basics: Suppose you are committed to owning a 190000 ferrari if you
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