Saving for new tractor and annual interest rate

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Reference no: EM13846873

Charles Hess is saving for a new tractor. The cost is $75,000. How much must he invest at a 4% annual interest rate to have $75,000 in six years? Round to the nearest dollar.

A. $60,104

B. $57,933

C. $58,106

D. $59,274

E. None of the above

Reference no: EM13846873

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