Todd Spodek will invest $5,000 at the beginning of each year for the next 9 years. The interest rate is 8 percent. What is the future value? A. $62,440 B. $67,435 C. $72,435 D. $58,471

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Q: years

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Q: 22) An investment pays you $5,000 at the end of each of the next five years. Your plan is to invest…

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A: The question gives the following information:

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A:

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A: For this problem, what is required is to determine the number of periods for the initial investment…