Multiple Choice
Suppose you borrow money from your parents for college tuition on January 1,2015.Your parents require four annual payments of $10,000 each,with the first payment due on January 1,2019.They are charging you 6% annual interest.What is the cost of the college tuition?
A) $40,000
B) $29,094
C) $27,447
D) $15,939
Correct Answer:
Verified
Correct Answer:
Verified
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