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How much money is required today to fund a 10-year annuity earning 5.6% compounded quarterly where the first monthly payment will be $2,000 and each
How much money is required today to fund a 10-year annuity earning 5.6% compounded quarterly where the first monthly payment will be $2,000 and each payment will grow by 0.2%? Calculate as an annuity due
a. $205,061.74
b. $207,211.35
c. $206,014.26
d. $204,074.28
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