What lump sum should be deposited in an account that will earn at an annual rate of 9%,compounded quarterly,to grow to $150,000 for retirement in 20 years? Round your answer to the nearest cent.
A) $147,330.10
B) $18,292.68
C) $53,571.43
D) $24,961.93
E) $25,294.49
Correct Answer:
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