You have discovered an investment opportunity that earns a 8% rate of interest compounded quarterly. Which of the following amounts is most nearly equal to the amount you should deposit today to have $7,000 in five years?

A) $5,300
B) $5,240
C) $4,760
D) $4,710

Answer: D

Business

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For a loan secured by a first lien, a lender is required to give the RESPA Special Information Booklet to a prospective borrower in which of the following cases?

a. A room addition b. A construction loan c. A residential structure with 1 -4 units d. A speculative loan

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