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How much do you need to invest today to receive $7,500 in 8 years, if you can earn 3% on your investment? $5,920.50 $4,705.59 $4,726.27 $7,953.86

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 2P

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Question

How much do you need to invest today to receive $7,500 in 8 years, if you can earn 3% on your investment?
1. $5,920.50
2. $4,705.59
3. $4,726.27
4. $7,953.86

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