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5 July, 03:22

Find the lump sum that must be deposited today to have a future value of $24,000 in 6 years if funds earn 8% compounded quarterly. A. $14,921.28

B. $15,651.36

C. $18,652.30

D. $28,651.12

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  1. 5 July, 03:34
    0
    A

    Step-by-step explanation:

    24,000 = P (1 + 0.08/4) ^24

    P = 24,000 / (1.02) ^24

    = 14,921.28
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