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18.Jeff Carter is saving for a new speedboat. The cost is $110,000. How much money must he put in a savings account that compounds at

18.Jeff Carter is saving for a new speedboat. The cost is $110,000. How much money must he put in a savings account that compounds at 4% annually to have $110,000 in 7 years? (Round to the nearest dollar). Select one: a. $80,206 b. $83,589 c. $80,606 d. 84,218

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