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(Ignore Income Taxes in This Problem

Question 14

Multiple Choice

(Ignore income taxes in this problem.) If you wanted to withdraw $12,000 from a bank account at the end of each of the next 20 years, approximately how much would you have to invest in the account today assuming a 6% interest rate?


A) $20,924
B) $38,462
C) $74,880
D) $137,604

Correct Answer:

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