Question: Stephen plans to purchase a car 5 years from now. The car will cost 32,000 at that time. Assume that Stephen can earn 7.32 (compounded

Stephen plans to purchase a car 5 years from now. The car will cost 32,000 at that time. Assume that Stephen can earn 7.32 (compounded monthly on his money.) How much should he set aside today for the purchase (Round to two decimal places and show all work.)

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