John Is Planning to Go to Graduate School in a Program

question 31

Multiple Choice

John is planning to go to graduate school in a program that will take three years.John wants to have $10,000 available each year for his school and living expenses.If he earns 6% on his investments,how much must be deposited at the start of his studies for him to withdraw $10,000 a year for three years?

• A)$10,000
• B)$18,390
• C)$26,730
• D)$29,100
• E)$30,000

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