Question: Calculating Present Values Suppose you are still committed to owning a $ 2 7 5 , 0 0 0 Ferrari ( see Question 9 )

Calculating Present Values Suppose you are still committed to owning a $275,000 Ferrari (see Question 9). If you believe your mutual fund can achieve an annual return of 11.2 percent, and you want to buy the car in nine years on the day you turn
30, how much must you invest today?

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