Question: If Jenny wanted to save a set amount each month so she could buy a new SUV when the new models are next available, which

If Jenny wanted to save a set amount each month so she could buy a new SUV when the new models are next available, which time value of money concept would be used to determine the monthly payment?

Select one:

.

future value of a single amount

.

present value of a single amount

.

present value of an annuity due

.

future value of an ordinary annuity

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