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If you will have $100,000 after 8 years with a 5 percent annual return
If you will have $100,000 after 8 years with a 5 percent annual return. How much money you have to invest today?
Select one:
a. $50,800.2
b. $70,800,2
c. $67,683.9
d. $80,450.1
Expert Solution
Here Future Value F = $100,000
time t = 8 years
rate r = 5%
Current investment P=?
P = F/(1+r)^t
=100,000/(1+5%)^8
=100,000/1.05^8
=$67,683.9
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