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2FM week 1_a - exam For passing the exam Tom anticipates he...

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ADAPT Practice Problems provided by SALT Solutions *ADAPT questions have a difficulty definition on a scale from 1 to 10 with 1 representing easy and 10 representing very difficult. Week 1 Difficulty level*is 5.7348469 Tom purchases a study manual and a subscription to ADAPT to make sure he passes Exam 2/FM. Tom expects to spend 300 hours studying for the
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Unformatted text preview: exam. For passing the exam, Tom anticipates he will earn an additional $100 per month payable at the end of each month starting six months from today. Tom plans to retire exactly 38 years from today. Using 6% effective annual interest, find the present value per hour of studying if Tom passes. A) 56 B) 59 C) 61 D) 55 E) 58...
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