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A Payment of $8000 Is Due May 15, 2023

Question 143

Multiple Choice

A payment of $8000 is due May 15, 2023. What was the value of this obligation on May 15, 2008 if money can earn 12% compounded quarterly between the two dates?


A) $26,096.30
B) $5,952.75
C) $16,66.31
D) $2,452.45
E) $13,578.65

Correct Answer:

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