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Estimate what is the present value of the investment

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Question 1: Jacob is saving up for a down payment on a car. He plans to invest $2000 at the end of every year for 5 years. If the interest rate on the account is 2.25% compounding annually, what is the present value of the investment?

Option 1: $5,666.58

Option 2: $10,461.24

Option 3: $9,358.91

Option 4: $37,731.88

Reference no: EM132498858

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