Wexter and Daughter invested $165,000 to help fund a company expansion project planned for 3 years from now. How much additional money will the firm have saved 3 years from now if it can earn 7% rather than 5% on this money?
A) $7,940.09
B) $8,218.07
C) $11,123.97
D) $12,648.18
E) $13,211.21
Correct Answer:
Verified
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