Which of the following is correct? a. Over the last 100 years Japan had a higher average growth rate than the United States. It
1 answer:
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Answer:
You must deposit "$74,806.25" today.
Explanation:
The given values are:
Periodic payment,
P = $10,300
Rate of interest,
r =
=
Number of periods,
n =
=
Now,
The PV of annuity will be:
=
On substituting the given values, we get
=
=
= ($)