Multiple Choice
Terry Lampron wishes to make 8 annual withdrawals of $3,000 each beginning on May 1,2011.Assuming a 4% interest rate,on May 1,2010,Lampron must deposit an amount of money equal to:
A) $20,198.23
B) $27,642.60
C) $26,192.10
D) $ 9,936.30
Correct Answer:
Verified
Correct Answer:
Verified
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