Ashley wants to buy a new BMW that sells for $60,000 today. Its price is increasing...
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Ashley wants to buy a new BMW that sells for $60,000 today. Its price is increasing at an annual rate of 2 percent. If she has already saved $48,000 as of today, what annual rate of return would she need to earn on those savings to be able to afford the car 2 years from today, assuming she saves no more money? Ashley wants to buy a new BMW that sells for $60,000 today. Its price is increasing at an annual rate of 2 percent. If she has already saved $48,000 as of today, what annual rate of return would she need to earn on those savings to be able to afford the car 2 years from today, assuming she saves no more money?
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