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Twenty Years from Now, You Want to Spend $175,000 for a Fancy

Question 27

Multiple Choice

Twenty years from now, you want to spend $175,000 for a fancy car. How much must you deposit as a lump sum today to achieve this goal at an annual interest rate of 6.6 percent?


A) $54,208.16
B) $48,740.95
C) $57,911.08
D) $40,019.82
E) $51,446.60

Correct Answer:

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