You Need $15,400 in Three Years

question 76

Multiple Choice

You need $15,400 in three years. How much do you need to deposit today to fund this need if you can earn 5 percent per year, compounded continuously? Assume this is the only deposit you make.

• A) $13,506
• B) $13,049
• C) $14,179
• D) $13,255
• E) $12,916

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