Dr. Klinger has several elderly patients that cannot come to his dental office. Dr. Klinger is researching various local banks for the best certificate of deposit rate to fund a dental van to use to drive to patients who need dental care. One bank is willing to offer him a 10-year certificate at a 6% interest rate compounded annually. He has $55,000 to invest. How much will Dr. Klinger have available at the time of maturity of the investment. Period 1% 2% 4% 6% 5 1.051 1.104 1.217 1.338 6 1.062 1.126 1.265 1.419 7 1.072 1.149 1.316 1.504 8 1.083 1.172 1.369 1.594 9 1.940 1.195 1.423 1.689 10 1.105 1.219 1.480 1.791 a. $60,720 b. $81,400 c. $92,895 d. $98,505

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