Money is compounded at a rate

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Reference no: EM13998690

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 is money is compounded at a rate of 8% per time period?

a) $28,857

b) $26,000

c) $30,892

d) $33,363

Reference no: EM13998690

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