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Assuming an interest rate of 5%, if you invest a lump sum of $6,200 now, the balance of your investment in 6 years will be

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Assuming an interest rate of 5%, if you invest a lump sum of $6,200 now, the balance of your investment in 6 years will be closest to: A. $37,200 B. $31,471 C. $8,308 D. $9,616

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