Determine the principal P (to the nearest cent) that will yield a balance of  dollars when invested at rate for 40 years, compounded 4 times per year. Round the answer to two decimal places.

A. $173,611.11
B. $14,218.75
C. $1,026,614.38
D. $147,569.44
E. $71,090.14


Answer: E

Mathematics

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