Question: Problem 4-17 Calculating Present Values [LO 2] Suppose you are committed to owning a $175,000 Ferrari. Required: If you believe your mutual fund can achieve

Problem 4-17 Calculating Present Values [LO 2] Suppose you are committed to owning a $175,000 Ferrari. Required: If you believe your mutual fund can achieve a 10.4 percent annual rate of return, and you want to buy the car in 11 years on the day you turn 30, how much must you invest today? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Amount to be invested

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