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Multiple Choice Questions: Question 1: The amount you must deposit now in your savings account, paying 5% interest, in order to accumulate $5,000 for your
Multiple Choice Questions: Question 1: The amount you must deposit now in your savings account, paying 5% interest, in order to accumulate $5,000 for your first tuition payment when you start college in 3 years is A) $4,250. B) $3,915. C) $4,319. D) $4,430 Question 2: Suzy Douglas has been offered the opportunity of investing $91,925 now. The investment will earn 8% per year and at the end of its life will return $250,000 to Suzy. How many years must Suzy wait to receive the $250,000? A) 11 B) 12 C) 13 D) 10
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