What amount of cash must be invested today in order to have $38,000 at the...

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Accounting

What amount of cash must be invested today in order to have $38,000 at the end of one year assuming the rate of return is 8%? Use Appendix Table 1.

Multiple Choice

  • $30,400

  • $32,579

  • $35,185

  • $34,960

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