You won the state lottery and took the payout as a $1,823,475 lump sum today.Your spouse has decided that you need to invest this money for the next 9 years and can expect it to earn an average annual rate of return of 8.00%.If this comes to pass,how much money will be in the account at the end of the period?
A) $8,471,253
B) $3,645,135
C) $2,567,586
D) $1,890,471
Correct Answer:
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