Multiple Choice
IAN Tech is saving $10,000 a month in a money fund to pay for equipment that will cost $700,000 five years from now. If the interest rate is 1/4% per month, how much additional funds will be needed to pay for this equipment?
A) $48,239
B) $53,530
C) $59,750
D) $25,070
Correct Answer:
Verified
Correct Answer:
Verified
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