Question: Dr. J. wants to buy a Dell computer which will cost $3,100 seven years from today. He would like to set aside an equal amount

Dr. J. wants to buy a Dell computer which will cost $3,100 seven years from today. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn 6% annual return. How much should he set aside? Use Appendix C to calculate the answer. (Round your final answer to 2 decimal places.)

Multiple Choice

$369.31
$419.31
$344.31
$469.31

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