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What Lump Sum Should Be Deposited in an Account That

Question 178

Multiple Choice

What lump sum should be deposited in an account that will earn at an annual rate of 9%,compounded quarterly,to grow to $150,000 for retirement in 20 years? Round your answer to the nearest cent.


A) $147,330.10
B) $18,292.68
C) $53,571.43
D) $24,961.93
E) $25,294.49

Correct Answer:

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