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Question 12

Multiple Choice

Use this information to answer the following question. Use this information to answer the following question. What amount must be deposited today so that $1,200 may be withdrawn at the end of each year for three years,assuming an APR of 7 percent? A) $3,148.80 B) $3,148.00 C) $3,366.00 D) $3,850.28 What amount must be deposited today so that $1,200 may be withdrawn at the end of each year for three years,assuming an APR of 7 percent?


A) $3,148.80
B) $3,148.00
C) $3,366.00
D) $3,850.28

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