Refer to Table 3.1 above. How much will you need to deposit today to enable you to withdraw $1,000 each year for the next 5 years if the money is invested at 7%?
A) $1,403
B) $713
C) $5,751
D) $4,100
Answer: D
Explanation: D) $1,000 × 4.100 = $4,100
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