Question: Tom Jones is saving for a new tractor that costs $60,000. How many dollars, should be set aside now to receive $60,000 in 8 years

Tom Jones is saving for a new tractor that costs $60,000. How many dollars, should be set aside now to receive $60,000 in 8 years assuming that money compounds at 4% annually?

43,842 44,842 45,842 46,842

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