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Posted by on Monday, June 11, 2012 at 1:40pm.

I want to be able to buy a car with cash in 4 years. I have $5,000 that I can invest today. I can get a bond earning 6.5%. How much will I have for the purchase?

  • math - , Monday, June 11, 2012 at 1:44pm

    I = PRT

    I = 5,000 * 0.065 * 4

    I = 1,300

    5,000 + 1,300 = ?

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