You plan to pay $38,000 cash for the new truckyou want to buy 5 years from now. You are a veryastute investor; all your money earns at 20% peryear. If you have already saved $9500, the amountyour rich aunt has to give you 2 years from now(as a graduation present) in order for you to havethe total amount of $38,000, is closest to:a. <$7500b. $7654c. $8310d. $9880

here we find the right option of the given by following method given below as;

astute investor; all your money earns at 20% per vear. If you have already saved $9500, the amount vour rich aunt has to give you 2 years from now as a graduation present) in order for you to have he total amount of $38,000, is closest to: a. <$7500

astute investor; all your money earns at 20% per vear. If you have already saved $9500, the amount vour rich aunt has to give you 2 years from now as a graduation present) in order for you to have he total amount of $38,000, is closest to: a. <$7500

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

You plan to pay $38,000 cash for the new truck
you want to buy 5 years from now. You are a very
astute investor; all your money earns at 20% per
year. If you have already saved $9500, the amount
your rich aunt has to give you 2 years from now
(as a graduation present) in order for you to have
the total amount of $38,000, is closest to:
a. <$7500
b. $7654
c. $8310
d. $9880

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