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How Much Money Would Have to Be Deposited on March

Question 85

Multiple Choice

How much money would have to be deposited on March 11 into an account earning a simple interest rate of 9.5% if the goal is to have the deposit grow to $12,000 by November 1?


A) $10,860.00
B) $11,175.45
C) $14,098.36
D) $11,308.33
E) $11,497.44

Correct Answer:

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