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How much must be deposited today in an account earning 6% annually to accumulate a 20% down payment to use in purchasing a car one year from now, assuming that the car's current price is $20,000, and inflation will be 4%?
World Bank
An international financial institution that provides loans and grants to countries for development projects aimed at reducing poverty.
Basic Development Projects
Initiatives aimed at foundational improvements in an economy or society, such as infrastructure, education, and health services.
Developing Nations
Countries with a lower level of material well-being, lower income per capita, and generally striving to achieve higher levels of economic and social development.
Economists
Professionals who study and analyze the production, distribution, and consumption of goods and services.
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