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Benjamin Is Planning to Go to Graduate School in a Program

Question 7

Multiple Choice

Benjamin is planning to go to graduate school in a program that will take three years.Benjamin wants to have $10,000 available each year for his school and living expenses.If he earns 6% on his investments,approximately how much must be deposited at the start of his studies for him to withdraw $10,000 a year for three years? Benjamin is planning to go to graduate school in a program that will take three years.Benjamin wants to have $10,000 available each year for his school and living expenses.If he earns 6% on his investments,approximately how much must be deposited at the start of his studies for him to withdraw $10,000 a year for three years? A) $10,000 B) $18,390 C) $26,730 D) $29,100 E) $30,000


A) $10,000
B) $18,390
C) $26,730
D) $29,100
E) $30,000

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