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A company has $53,000 today to invest in a fund that will earn 4% compounded...

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Finance

A company has $53,000 today to invest in a fund that will earn 4% compounded annually. How much will the fund contain at the end of 6 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

Multiple Choice

a.$55,120

b. $72,107

c. $65,720Incorrect

d. $66,913

e. $67,061

Answer & Explanation Solved by verified expert
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