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Using TVM Solver 17. An investor invests $20,000 today for a four-year term and receives 9 percent annual compound interest. The interest-on-interest (i.e. compound interest)

image text in transcribedUsing TVM Solver

17. An investor invests $20,000 today for a four-year term and receives 9 percent annual compound interest. The interest-on-interest (i.e. compound interest) the investor earns during the four years is closest to: A. $1,032. B. $1,154. C. $1,282 D. $1,317. E. $1,639

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