What lump sum should be deposited in an account that will earn at an annual rate of 7%, compounded quarterly, to grow to $90,000 for retirement in 20 years? Round your answer to the nearest cent.
?
A. $29,594.17
B. $5,741.36
C. $44,828.96
D. $14,219.12
E. $22,464.10
Answer: E
Mathematics
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.y = x
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