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What Single Amount Deposited Now into an Account Paying 723%7 \frac { 2 } { 3 } \%

Question 253

Multiple Choice

What single amount deposited now into an account paying 723%7 \frac { 2 } { 3 } \% annual interest, compounded quarterly, would fund an annuity paying $3,470\$ 3,470 quarterly for the next 18 years?


A) $134,873.15\$ 134,873.15
B) $135,031.34\quad \$ 135,031.34
C) $134,917.86\$ 134,917.86
D) $134,898.15\quad \$ 134,898.15

Correct Answer:

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