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Sam's Uncle Promised to Give Him $7,000 When He Graduates

Question 80
Multiple Choice

Sam's uncle promised to give him $7,000 when he graduates from college three years from now.Assuming an interest rate of 8 percent compounded annually,what is the value of Sam's gift right now? A) $5,504.22 B) $5,510.78 C) $5,556.83 D) $5,555.55

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