Today, your dream car costs $53,400. You feel that the price of the car will increase at

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Today, your dream car costs $53,400. You feel that the price of the car will increase at an annual rate 2.3 percent. If you plan to wait 3 years to buy the car.

How much will it cost at that time?

Related Book For answer-question

Real Estate Finance and Investments

ISBN: 978-0073377339

14th edition

Authors: William Brueggeman, Jeffrey Fisher

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Posted Date: Apr 08, 2023 02:56 AM

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Today, your dream car costs $53,400. You feel that the price of the car will increase at

Question:

Expert Answer:

To calculate the future cost of the car after 3 years we can use the formula for compound inte... View the full answer

Real Estate Finance and Investments

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