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If You Want to Have $3,575 in 29 Months,how Much

Question 36

Multiple Choice

If you want to have $3,575 in 29 months,how much money must you put in a savings account today? Assume that the savings account pays 12% and it is compounded monthly; round to nearest $1.


A) $3,147
B) $3,008
C) $2,679
D) $2,438

Correct Answer:

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