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    Intermediate Accounting Reporting and Analysis Study Set 1
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    Exam 23: Understanding Time Value of Money Formulas and Concepts
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    Marco Needs $175,000 Six Years from Today
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Marco Needs $175,000 Six Years from Today

Question 117

Question 117

Multiple Choice

Marco needs $175,000 six years from today. How much should Marco deposit today into an investment account that provides a 12% annual return in order to accomplish his goals?


A) $89,523
B) $88,660
C) $85,487
D) $62,500

Correct Answer:

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