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How much money must be invested now in order to be able to

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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?

A) $24,840

B) $23,195

C) $21,440

D) $1,755

Reference no: EM13567153

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