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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
Business Economics, Economics
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