Determining the annual percentage rate

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Reference no: EM13971310

You want to have $100,000 in 2 years. If you found an investment account that pays you 9% APR (annual percentage rate) with monthly compounding, how much do you need today?

A. 84,168

B. 83,693

C. 85,168

D. 84,593

E. 83,583

Reference no: EM13971310

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