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Sara wants to have $530,000 in her savings account when she retires. How much must she put in the account now, if the account pays

Sara wants to have

$530,000

in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of

9%,

to ensure that she has

$530,000

in

18

years time?

A.

$112,357

B.

$202,243

C.

$157,300

D. 119,492

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