Multiple Choice
How much must be deposited on January 1, 2015 in a savings account paying 6% annually in order to make annual withdrawals of $25,000 at the end of the years 2015 and 2016? The present value of one at 6% for one period is .9434.
A) $45,835
B) $47,175
C) $50,000
D) $22,250
Correct Answer:
Verified
Correct Answer:
Verified
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