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Franklin Needs to Have $1,000 in 8 Years

Question 59

Multiple Choice

Franklin needs to have $1,000 in 8 years.If his investment earns 5% compounded annually, how much must he invest today to achieve his goal? (Round your answer to two decimals.)


A) $676.84
B) $680.58
C) $1,477.46
D) $1,469.33

Correct Answer:

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