Question
Mary plans to invest some money so that she has $2,500 at the end of three years. Determine how much should she invest today given
Mary plans to invest some money so that she has $2,500 at the end of three years. Determine how much should she invest today given the following choices: (Round intermediate calculations to 6 decimal places, e.g. 2.512512 and round final answer to 2 decimal places, e.g. 2,515.25.) A. 4.38 percent compounded daily. Amount required to be invested: $ B. 4.92 percent compounded monthly. Amount required to be invested: $
C. 5.2 percent compounded quarterly. Amount required to be invested: $ D. 5.4 percent compounded annually. Amount required to be invested: $
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