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11. How much need to be invested today to result in a Future Value of $60,000 in 8 years time? Assume an annual fixed-rate of

11. How much need to be invested today to result in a Future Value of $60,000 in 8 years time? Assume an annual fixed-rate of interest of 5.25% a) $38,362.62 b) $39,845.05 c) $37,587.32 d) $39,095.93

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