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Assuming an interest rate of 12%, if you invest a lump sum of $5,000 now, the balance of your investment in 7 years will be

Assuming an interest rate of 12%, if you invest a lump sum of $5,000 now, the balance of your investment in 7 years will be closest to :
a. $11,055.
b. $35,000.
c. $22,820.
d. $2,260.

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