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Your motherpromises tocontribute$60 a week to a savings account which you will receive in another 20 years. Ifthe applicable discount rate is 9 percent with
Your motherpromises tocontribute$60 a week to a savings account which you will receive in another 20 years. Ifthe applicable discount rate is 9 percent with weekly compounding, what is thisgift worth to you today? Assume she makes her first contribution in one week and that there are 52 weeks in a year.
A) $28,927.38
B) $27,618.46
C) $29,211.11
D) $25,987.74
E) $25,306.16
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