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Sara Wants to Have $500,000 in Her Savings Account When

Question 4

Multiple Choice

Sara wants to have $500,000 in her savings account when she retires.How much must she put in the account now,if the account pays a fixed interest rate of 8%,to ensure that she has $500,000 in 20 years' time?


A) $107,274
B) $144,616
C) $180,884
D) $231,480

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