Joe Cool plans to hit the campus scene. He expects his tuition for each of the next four years to be $2,000, payable at the end of each year. (He's cool, not smart.) At a 6% annual interest rate,
How much would have to be invested today to provide for all his future tuition payments?
Round your answer to the nearest dollar.
A) $2,525
B) $6,930
C) $8,000
D) $7,346
Correct Answer:
Verified
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