You Are Currently Entering University and You Want to Buy

question 22

Multiple Choice

You are currently entering university and you want to buy your uncle's Mercedes when you graduate. He has promised to sell it to you for $18,000. How much will you have to deposit now, in an account earning 8%, to have enough money buy the car in 4 years?

• A) $3,060
• B) $6,122
• C) $4,500
• D) $13,230

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