What single sum of money at t = 4 is equivalent to receiving $5,000 at t = 1, $6,000 at t = 2, $7,000 at t = 3, and $8,000 at t = 4 if money is compounded at a rate of 8% per time period? a. $28,857 b. $26,000 c. $30,892 d. $33,363.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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What single sum of money at t = 4 is equivalent to receiving $5,000 at t = 1, $6,000 at t = 2, $7,000 at t = 3, and $8,000 at t = 4 if money is compounded at a rate of 8% per time period? a. $28,857 b. $26,000 c. $30,892 d. $33,363.

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