Question: If Jethro wanted to save a set amount each month in order to buy a new pick-up truck when the new models are next available,

If Jethro wanted to save a set amount each month in order to buy a new pick-up truck when the new models are next available, which time value concept would be used to determine the monthly payment?

a. Future value of one.

b. Present value of an annuity due.

c. Present value of one.

d. Future value of an ordinary annuity.

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