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Josh Jacobsen just received $1,000,000 from winning the lottery. He has decided to spend $200,000 immediately and to invest the remaining. If he can get
Josh Jacobsen just received $1,000,000 from winning the lottery. He has decided to spend $200,000 immediately and to invest the remaining. If he can get a 4 percent interest rate that is compounded quarterly, how much will he have at the end of 10 years?
$1,191,120
$1,600,000
$1,314,896
$1,067,509
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