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d. $2,355 e. $1,784 8. Lisa's opportunity cost rate is 10 percent compounded annually. How much must she deposit in an account today if she
d. $2,355 e. $1,784 8. Lisa's opportunity cost rate is 10 percent compounded annually. How much must she deposit in an account today if she wants to receive $3,200 at the end of each of the next 12 years? Use the equation method to determine the amount to be deposited today. a $17,226 b. $14,868 c. $23.252 d. $18,725 e. $21,804 9. If Rachel invests $1700 today in an account that pays 6 percent interest compounded annually, how long will it take for her to accumulate $6,500 in her account? a. 23.02 years b. 18.50 years C. 20.52 years d. 16.89 years e. 25.65 years 10. Glen wants to take a holiday that costs $8,850, but currently he only has $2.750 saved. Whe invests this money at 8 percent interest compounded annually, how long will he have to wait to take his holiday? a. 12.36 years b. 16.25 years c. 15.19 years d. 13.52 years e. 14.12 years
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