How can knowing the future value of money help plan for a large purchase like a car?

A. It replaces the need for a loan.
B. It can predict the exact future cost of the car.
C. It guarantees a fixed interest rate for savings.
D. It can help determine the amount to save monthly.

Knowing the future value of money plays a crucial role in planning for a large purchase like a car. By understanding the future value of money, individuals can determine how much to save monthly towards the purchase. This knowledge helps in budgeting efficiently and making informed financial decisions in terms of the car purchase.

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How can knowing the future value of money help plan for a large purchase like a car?A. It replaces the need for a loan.B. It can predict the exact future cost of the car.C. It guarantees a fixed interest rate for savings.D. It can help determine the amount to save monthly.

Answer :

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Explanation:

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Other Questions

How can knowing the future value of money help plan for a large purchase like a car?

A. It replaces the need for a loan.
B. It can predict the exact future cost of the car.
C. It guarantees a fixed interest rate for savings.
D. It can help determine the amount to save monthly.