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Chip wants to buy a car when he gets his driver license 7 years from...

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Finance

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Chip wants to buy a car when he gets his driver license 7 years from today. He has a current bank balance of $4,000 and plans to deposit $3,000 at the end of each of the next 7 years. If he earns 4.9% interest annually, what price of car will he be able to afford

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