Multiple Choice
You are interested in accumulating $10,000 so that you can take a cruise in 3 years. If you trying to solve for the amount that you need to invest each year, earning 6% interest compounded annually, the $10,000 represents:
A) the amount to invest.
B) an annuity.
C) a future value.
D) a present value.
Correct Answer:
Verified
Correct Answer:
Verified
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