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TB MC Qu. 09-05 To save for a new car.. To save for a new car, Samuel Smith will invest $9,000 at the end of each year for th

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Answer #1

[(1+г) — 1 FV of Annuity %3D Р т Р- Рeriodic Pаутent г3 rate per period п 3 питber o ff periods

(10.08)5 1 FV 9000* 0,08

FV = 9000 * 5.866601

FV = $52,799.41 (Closest to Option 3)

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