Multiple Choice
Sam's uncle promised to give him $7,000 when he graduates from college three years from now.Assuming an interest rate of 8 percent compounded annually,what is the value of Sam's gift right now?
A) $5,504.22
B) $5,510.78
C) $5,556.83
D) $5,555.55
Correct Answer:
Verified
Correct Answer:
Verified
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