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Solve the Problem 12%12 \% Compounded Quarterly to Allow $650\$ 650 Withdrawals at the End of Each Quarter for 6 Years

Question 156

Multiple Choice

Solve the problem.
-Find the least amount that could be deposited in a bank account today at 12%12 \% compounded quarterly to allow $650\$ 650 withdrawals at the end of each quarter for 6 years?


A) $32,325.23\$ 32,325.23
B) $11,318.55\$ 11,318.55
C) $11,008.10\$ 11,008.10
D) $10,688.35\$ 10,688.35

Correct Answer:

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