Mr. Smith wishes to retire in 11 years. When he retires he would like to...
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Accounting
Mr. Smith wishes to retire in 11 years. When he retires he would like to have $500,000 in his bank account. Mr. Smith's bank pays 6% per year compounded annually. How much should he deposit now to attain his goal?
a) $263,395.76
b) $263,397.76
c) $263,393.76
d) $263,394.76
e) $263,396.76
f) None of the above.
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