Multiple Choice
Two payments of $10 000 each must be made one year and four years from now. If money can earn 9% compounded monthly, what single payment two years from now would be equivalent to the two scheduled payments?
A) $10 938
B) $8358
C) $11 964
D) $22 902
E) $19 296
Correct Answer:
Verified
Correct Answer:
Verified
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