Multiple Choice
What lump sum should be deposited in an account that will earn at an annual rate of 7%, compounded quarterly, to grow to $90,000 for retirement in 20 years? Round your answer to the nearest cent.
A) $29,594.17
B) $5,741.36
C) $44,828.96
D) $14,219.12
E) $22,464.10
Correct Answer:
Verified
Correct Answer:
Verified
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