How much does Ralph need to invest today to have $150,000 in five years if he will earn 8% interest compounded quarterly on his investment? (Round to the nearest whole dollar)

A) $100,946
B) $102,041
C) $101,351
D) $73,171
E) $105,453

A

Business

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A) Basic information B) Classification information C) Problem-solving information D) Identification information E) Phone book information

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The principle of diminishing marginal satisfaction helps to explain why people increase their rate of savings as their incomes rise

Indicate whether the statement is true or false.

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