Invest money-rate of return

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Reference no: EM13829139

(Ignore income taxes in this problem.) Assume you can invest money at a 14% rate of return. How much money must be invested now in order to be able to withdraw $5,000 from this investment at the end of each year for 8 years, the first withdrawal occurring one year from now?

$24,840

$23,195

$21,440

$1,755

Reference no: EM13829139

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