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A family spends $55,000 a year for living expenses. If prices increase 4 percent a year for the next three years, what amount will the family need for their annual living expenses after three years

A family spends $55,000 a year for living expenses. If prices increase 4 percent a year for the next three years, what amount will the family need for their annual living expenses after three years? Only use the FV factor values obtained in Exhibit 1-A to calculate this solution.

Apr 13 2021 View more View Less

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