Question: Suppose you plan to replace a tractor in 1 2 years and it will cost $ 7 5 , 0 0 0 . How much

Suppose you plan to replace a tractor in 12 years and it will cost $75,000. How much money would you need to put into your savings account at the end of the next 12 years to achieve this goal if the interest rate is 12%?
Group of answer choices
$2,846
$3,860
$3,108
None of the answers are correct

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