Lisa's opportunity cost rate is 10 percent compounded annually. How much must she deposit in an account today if she wants to receive $3,200 at the end of each of the next 12 years? Use the equation method to determine the amount to be deposited today.
A) $17,226
B) $14,868
C) $23,252
D) $18,725
E) $21,760
Correct Answer:
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