Question: Jack Robbins is saving for a new car. He needs to have $21,000 for the car in three years. How much will he have to

Jack Robbins is saving for a new car. He needs to have $21,000 for the car in three years. How much will he have to invest today in an account paying 8% annually to achieve his target? (Round to nearest dollar)

a) $26,454

b) 19,444

c) $22,680

d) $16,670

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