Multiple Choice
You are interested in accumulating $10,000 so that you can take a cruise in 3 years.If you trying to solve for the amount that you need to invest each year, earning 6% interest compounded annually, the $10,000 represents:
A) The amount to invest.
B) An annuity.
C) A present value.
D) A future value.
Correct Answer:
Verified
Correct Answer:
Verified
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