Question: Mina needs $3,000 each year for three years from a 6% bank account. At the end of this time, the account balance should be zero.
Mina needs $3,000 each year for three years from a 6% bank account. At the end of this time, the account balance should be zero. The first withdrawal will occur today, and then the other two withdrawals will be made annually. The amount that should be in the bank today is Select answer from the options below a)($3,000/0.83962) x 3. b) $3,000 + ($3,000 x 0.94340) + ($3,000 x 0.89000). c)($3,000 x 0.94340) + ($3,000 x 0.89000) + ($3,000 x 0.83962). d) ($3,000/0.94340) x 3.
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