Don wants to have $50,000 available in 10 years for retirement living expenses and health care. If he earns an average of 8% on his investments, what amount must he invest each year?
A) $3,453
B) $5,000
C) $4,372
D) $4,003
Answer: A
Explanation: A) $50,000/14.487 (FVIFA) = $3,453
Business
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