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8 May, 14:33

Select the correct answe

future values * (1+)

"present value""P" (141

Kate wants to have $25,000 in 16 years. How much does she need to invest if the interest rate is 6 percent per year?

A

$10,431.63

B. $9.841.16

C. $7,353.88

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Answers (2)
  1. 8 May, 17:19
    0
    9,841.16x1.06^16 = 25000.00739

    B is the correct answer
  2. 8 May, 18:25
    0
    B. is the correct answer
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