n 10 years, Cindy wants her investment to reach $40000 for a down payment on a small home. She has three investment options: Plan A: 6% annual interest, compounded yearly Plan B: 5% annual interest, compounded semi-annually Plan C: 4.5% annual interest, compounded monthly a)Calculate the present value of each option to determine the amount that Cindy would need to invest today to have her down payment in 10 years. b)Which plan should Cindy choose?

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Q: Five years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the…

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