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Elena Purchased a Stamp Collection for $5,000 30 Years Ago

Question 68

Multiple Choice

Elena purchased a stamp collection for $5,000 30 years ago. If its value appreciated at 8% annually, what is it worth today? (Round the answer to the nearest dollar.)


A) $17,000
B) $36,400
C) $50,313
D) $123,023
E) $150,000

Correct Answer:

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