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Darlene Wishes to Accumulate $50,000 by the End of 10

Question 9

Multiple Choice

Darlene wishes to accumulate $50,000 by the end of 10 years by making equal annual end-of-yeardeposits over the next 10 years. If Darlene can earn 5 percent on her investments, how much mustshe deposit at the end of each year?


A) $3,975
B) $4,513
C) $6,475
D) $5,000

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