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How much money does Melinda need to deposit into her investment account today if she wishes to withdraw $8,000 a year for twenty years? She expects to earn an average rate of return of 11 percent. (Choose the closest answer, use present value of annuity table)

a. $52,994

b. $73,541

c. $63,706

d. $74,141

e. $76,828

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91594534

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