Solve the Problem. -Barbara Knows That She Will Need to Buy a New

question 21

Multiple Choice

Solve the problem.
-Barbara knows that she will need to buy a new car in 5 years. The car will cost $15,000 by then. How much should she invest now at 5%, compounded quarterly, so that she will have enough to Buy a new car?

• A) $11,193.23
• B) $11,700.13
• C) $13,257.81
• D) $12,340.54

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An error in reasoning that renders an argument invalid.

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