Anita Is Planning to Go Back to School in 2

question 144

Multiple Choice

Anita is planning to go back to school in 2 years. Once at school, she wishes to be able to withdraw $900 at the end of each month for 2 years. If interest is 4.5% compounded monthly, determine the amount that should be deposited now to fulfil her goal.

• A) $18,848.06
• B) $19,675.25
• C) $20,437.43
• D) $20,884.13
• E) $21,973.28

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