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    Managerial Finance: Determining Formulas

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    1. How much would you need to invest today at 8% compounded annually to have $25,000 available to purchase a new car four years from now? What is the formula for this answer?
    a. $18,267.26
    b. $18,375.75
    c. $19,147.25
    d. $21,370.10
    e. $22,149.57

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    Solution Preview

    Using a financial calculator (Casio FC200),

    FV = 25000
    i = ...

    Solution Summary

    This solution provides steps to determine the formula necessary.