Trisha Long Wants to Buy a Boat in Five Years

question 81

Multiple Choice

Trisha Long wants to buy a boat in five years. She estimates the boat will cost $15,000 at that time. What must Trisha deposit today in an account earning 5% annually to have enough to buy the boat in five years?

• A)$12,328.50
• B)$11,527.50
• C)$11,752.50
• D)$11,077.50
• E)None of these

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Definitions:

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