Multiple Choice
If you want to have $10 000 for a down payment on a new car in three years' time,assuming an interest rate of 4.5 percent compounded annually,how much money do you need to deposit as a lump sum today?
A) $8650
B) $8712
C) $8112
D) $8763
Correct Answer:
Verified
Correct Answer:
Verified
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