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A family spends $59,000 a year for living expenses. If prices increase 3 percent a...

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Accounting

A family spends $59,000 a year for living expenses. If prices increase 3 percent a year for the next four years, what amount will the family need for their annual living expenses after four years? Only use the FV factors obtained in Exhibit 1-A to calculate this solution. (Round your FV factor to 3 decimal places and final answer to the nearest whole dollar.)

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