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You are thinking of buying a car in 4 years. The price of the car...

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Finance

You are thinking of buying a car in 4 years. The price of the car is $45,000 today. The nominal interest rate is 7% per year and inflation is 3% per year. How much do you have to save today to buy the car in 4 years? Enter your answer rounded to the nearest dollar (ex. $35,102.34 = 35,102)

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