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What lump sum must he invest now to have the 12000 at the

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?

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Managerial Accounting: What lump sum must he invest now to have the 12000 at the

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