Multiple Choice
Using the Time Value of Money charts provided, answer the following question. (Note to Instructors: Provide the appropriate tables to students from Personal Finance, Seventh Edition, Appendix C: Financial Tables.)
Judy would like to have $200,000 saved in her retirement account in 20 years. Assuming an interest rate of 10%, how much should she contribute each year?
A) $3,491.92
B) $2,000.00
C) $2,576.11
D) $4,376.77
Correct Answer:
Verified
Correct Answer:
Verified
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