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Hilda Wishes to Deposit an Amount into Her Savings Account

Question 157

Multiple Choice

Hilda wishes to deposit an amount into her savings account that will enable her to withdraw $1,600 per year for the next four years.She should deposit an amount equal to $1,600 multiplied by the


A) present value of a single sum factor.
B) present value of an ordinary annuity factor.
C) future value of a single sum factor.
D) future value of an ordinary annuity factor.

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