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Hello, Im stuck on this question. I know the answer is B $8,477.47 but,can some please help explain how I would find the answer? Thank
Hello, Im stuck on this question. I know the answer is B $8,477.47 but,can some please help explain how I would find the answer? Thank you
Martha is going to receive $6,000 in two years from Tom. She will receive an additional $4,000 in three years from Tom. She earns 7.15% per year compounded annually on her investments. How much is this money from Tom worth to Martha today?
A) | $7,893.46 |
B) | $8,477.47 |
C) | $8,891.74 |
D) | $9,225.97 |
E) | $9,251.50 |
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