You have $50,000 saved. You plan on putting some of that money into a savings...
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Accounting
You have $50,000 saved. You plan on putting some of that money into a savings account that pays an annual interest rate of 12%. (Monthly interest rate of 1%). The rest of the money you will use to help defray your living expenses.
You expect that the car of your dreams will cost $35,450 in 3 years.
How much money should you put into the savings account?
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