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accounting/math homework help!?
(Ignore income taxes in this problem.) A company wants to have $20,000 at the end of a ten-year period by investing a single sum now. How much needs to be invested in order to have the desired sum in ten years, if the money can be invested at 12%?
a. $6,440.00
b. $7,720.00
c. $3,254.68
d. $3,539.82
1 Answer
Relevance
- Jun AgrudaLv 71 decade agoFavorite Answer
= $20,000.00/(1.12)¹°
= $20,000.00/3.10584820832
= $6,439.47
Answer: $6,439.47 OR a. as an approximation nearest to the exact figure.
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