Suppose you are committed to owning a $220,000 Ferrari. If you believe your mutual fund can achieve an annual return of 10.85 percent, and you want to buy the car in 8 years on the day you turn 30, how

asked Mar 26, 2021 162k views

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1 vote

Answer:

2,291,520

Step-by-step explanation:

220,000×10.85%=23,870

23,870×96=2,291,520

Navaneethan answered Mar 29, 2021

6.5k points

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