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(Ignore Income Taxes in This Problem

Question 2

Multiple Choice

(Ignore income taxes in this problem. ) How much would you have to invest today in the bank at an interest rate of 7% to have an annuity of $2,800 per year for 9 years,with nothing left in the bank at the end of the 9 years? Select the amount below that is closest to your answer.


A) $25,200
B) $18,242
C) $23,551
D) $1,523

Correct Answer:

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