Assuming monthly compounding

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Reference no: EM13790620

Suppose Manij needs $47,500 to buy a new kitchen at the end of 2019. Assume that Manij uses an account earning 2.65% yearly. What does Manij have to deposit at the beginning of 2013, assuming monthly compounding.

Options

A. 39445.79

B. 39465.79

C. 39485.79

D. 39505.79

E. None of the above

Reference no: EM13790620

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