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Assuming an interest rate of 12%, if you invest a lump sum of $7,000 now, the balance of your investment in 10 years will be

Assuming an interest rate of 12%, if you invest a lump sum of $7,000 now, the balance of your investment in 10 years will be closest to: A. $39,550 B. $70,000 C. $21,742 D. $2,254

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