Multiple Choice
Patricia wants to invest a sum of money today that will yield $10,000 at the end of 6 years. Assuming she can earn an interest rate of 6% compounded annually, how much must she invest today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)
A) $8,836
B) $8,306
C) $7,050
D) $6,000
E) $9,400
Correct Answer:
Verified
Correct Answer:
Verified
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