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Find the Amount of Each Regular Payment to Provide $24,500

Question 5

Multiple Choice

Find the amount of each regular payment to provide $24,500 in 11 years, at an annual rate r = 9%, compounded semiannually.


A) $689.22
B) $687.47
C) $674.87
D) $679.97
E) $1,023.07

Correct Answer:

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