Multiple Choice
How much must be invested today to make four annual withdrawals of $20,000 each for tuition payments if you can earn 8% compounded annually on your investment and the first withdrawal will take place in one year? (Round to the nearest whole dollar)
A) $66,243
B) $51,242
C) $79,854
D) $47,393
E) $57,341
Correct Answer:
Verified
Correct Answer:
Verified
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