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Two payments of $49 000 each must be made 3 year and 5 year from...

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Question

Finance

Two payments of $49 000 each must be made 3 year and 5 year from now. If money can earn 4.9% compounded monthly, what single payment 5 years from now would be equivalent to the two scheduled payments?

Select one:

A.

$98 117

B.

$98 000

C.

$101 177

D.

$105 742

E.

$103 034

Answer & Explanation Solved by verified expert
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