Deposited today that will yield the same total amount

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Reference no: EM13836230

Find the lump sum deposited today that will yield the same total amount as this yearly payment made at the end of each year for 20 years at the given interest rate, compounded annually. $55,000 at 5%.

A) $685,201.00 B) $685,421.57 C) $705,166.00 D) $664,691.50

Reference no: EM13836230

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