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Marshall has received an inheritance and wants to invest a sum of money today that will...

Marshall has received an inheritance and wants to invest a sum of money today that will yield $5700 at the end of each of the next 10 years. Assuming he can earn an interest rate of 5% compounded annually, how much of his inheritance must he invest today? (Use appropriate factor(s) from the tables provided.)

A) $44,013.69

B) $114,000.00

C) $54,150.00

D) $57,000.00

E) $51,442.50

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Answer #1
Rate Rate per period 0.05
NPER Total No of periods 10
PMT Payment per period 5700
FV Future Value 0
TYPE Ending (0),Beginning(1) 0
PV Present value $44,013.69 -PV(0.05,10,5700,0,0)
(-PV(rate,nper,pmt,fv,type)
The correct option is A
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