Solve the problem.Mark and Kate are establishing a fund for their son's college education. What lump sum must they deposit in an account that gives 6% annual interest rate, compounded monthly, in order for them to have $65,000 in the fund at the end of 10 years?
A. $40,302.13
B. $38,046.13
C. $35,726.13
D. $37,026.13
Answer: C
Mathematics
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B.
| 70,400 m3 |
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