Sean is looking to buy a used car and is trying to plan for this big purchase and is wondering how much he needs today for this car if he uses a 4-year term deposit which pays 1.5% semi-annually. He needs $20,000 in 4 years' time and has saved $1,000 to date.

 a. $16,754

 b. $17,912 

c. $17,843 

d. $16,867

Answer rating: 100% (QA)

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