Multiple Choice
How much money must you pay into an account at the beginning of each of five years in order to have $5,000 at the end of the fifth year? Assume that the account pays 12% per year, and round to the nearest $1.00.
A) $703
B) $1,390
C) $1,550
D) $787
Correct Answer:
Verified
Correct Answer:
Verified
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