Answers
Answer: Option b is correct. The correct option is $107915
Future value=Present value*(1+interest rate)^Time period
Taking time period as 18 years,interest rate of 10%, and future value of 600000 we get;
600000=x*(1+10%)^18
=>x=600000/600000=x*(1+10%)^18
x=600000/5.559917313=107915.274 or 107915 (Rounded to the nearest whole number)
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