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You Would Like to Have $8 500 for Future Spending

Question 22

Multiple Choice

You would like to have $8 500 for future spending in three years from now. How much should you deposit in your bank account now if the account pays you 0.4% interest per month?


A) $2 071
B) $7 362
C) $8 102
D) $8 399
E) $8 429

Correct Answer:

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