You are looking to purchase a home automation system when you graduate in two years. You...
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You are looking to purchase a home automation system when you graduate in two years. You plan to deposit the money in an investment account earning 8% annually. The anticipated cost of the system in two years is $2,500. How much must you deposit today? You are looking to purchase a home automation system when you graduate in two years. You plan to deposit the money in an investment account earning 8% annually. The anticipated cost of the system in two years is $2,500. How much must you deposit today?
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To calculate the present value PV of the future cost you can use the formula PV ... View the full answer
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