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How Much Money Must You Pay into an Account at the Beginning

Question 23

Multiple Choice

How much money must you pay into an account at the beginning of each of 30 years in order to have $10,000 at the end of the 30th year? Assume that the account pays 11% per annum,and round to the nearest $1.


A) $39
B) $46
C) $50
D) None of the above

Correct Answer:

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