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Sam invests the amount of $22,750 in the bank today and, in addition, starting a year from today, she will invest an annual annuity of
Sam invests the amount of $22,750 in the bank today and, in addition, starting a year from today, she will invest an annual annuity of $21,950 for 17 consecutive years. Which of the following comes closest to the value of these investments at the end of year 17 if the interest rate is 11.1%?
a.$1,122,159
b.$911,229
c.$712,554
d.$1,245,666
e.$614,569
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