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Troy wants to accumulate $40,000 in 10 years to purchase a vacation home. What is the annual investment rate of return that Troy must obtain

Troy wants to accumulate $40,000 in 10 years to purchase a vacation home. What is the annual investment rate of return that Troy must obtain if he deposits $250 at the end of every month for 10 years?

a. 6.75%

b. 5.56%

c. 9.25 %

d. 7.75 %

** NOTE: The answer is B, but can someone please help me with the FV, PV, PMT, N and IY for the calculation? Thanks

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