Multiple Choice
Determine the amount that must be deposited today in order for an investor to withdraw $400 per month for 3 years and have $10,500 remaining.Interest is assumed to be 6.45% compounded annually.
A) $19,190
B) $20,694
C) $21,801
D) $22,522
Correct Answer:
Verified
Correct Answer:
Verified
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