Jennifer Rodriguez plans to attend graduate school in 5 years. She thinks that she will need a total of $32,000 to pay for school, and she wants to save money each month to reach her goal. What type of computation should she use?
A) Present value of a single amount
B) Future value of a single amount
C) Simple interest
D) Present value of an annuity
E) Future value of an annuity
Correct Answer:
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