Suppose You Are Committed to Owning a $140,000 Ferrari

question 52

Multiple Choice

Suppose you are committed to owning a $140,000 Ferrari.You believe your mutual fund can achieve an annual rate of return of 8 percent and you want to buy the car in 7 years.How much must you invest today to fund this purchase assuming the price of the car remains constant?

• A)$74,208.16
• B)$81,688.66
• C)$87,911.08
• D)$98,019.82
• E)$99,446.60

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