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An Investment of $6000 at the Start of the Year

Question 98

Multiple Choice

An investment of $6000 at the start of the year will pay $1000 at the end of the year for a set number of years.What is the minimum number of years these payments must be made for if the investment is to be worthwhile,given that the interest rate is 6%?


A) 6 years
B) 7 years
C) 8 years
D) 9 years
E) 10 years

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