Sara Wants to Have $500 000 in Her Savings Account

question 55

Multiple Choice

Sara wants to have $500 000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 8%, to ensure that she has $500 000 in 20 years' time?

• A)$107 274
• B)$180 884
• C)$231 480
• D)$144 616

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Definitions:

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Role-playing

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