Present and future value tables of $1 at 9% are presented below, olm N FV...
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Present and future value tables of $1 at 9% are presented below, olm N FV $1 PV $1 1 1.09000 0.91743 2 1.18810 0.84168 3 1.29503 10.77218 4 1.41158 0.70843 5 1.53862 0.64993 6 1.67710 0.59627 FVA $1 1.0000 2.0900 3.2781 4.5731 5.9847 7.5233 PVAD $1 1.0900 2.2781 3.5731 4.9847 6.5233 8.2004 PVA $1 0.91743 1.75911 2.53129 3.23972 3.88965 4.48592 PVAD $1 1.00000 1.91743 2.75911 3.53129 4.2397 4.88965 You want to invest $6,600 annually beginning now in order to accumulate $32,650 for a down payment on a house. If you can invest at an interest rate of 9% compounded annually, about how many years will it take to accumulate the required amount? Multiple Choice 4 years 6 years O 4 years. O 6 years. 3 years. O 5 years
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