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Six Years Ago, Fred Barnhouse Invested $25,000 in Old Train

Question 198

Multiple Choice

Six years ago, Fred Barnhouse invested $25,000 in old train sets. Four years ago, he invested another $10,000. Last year, he invested an additional $15,000. The train sets have increased in value at a rate of 6.5% annually. What is Fred's investment in these trains worth today?


A) $61,331.66
B) $62,414.14
C) $64,545.45
D) $65,318.22
E) $69,563.91

Correct Answer:

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