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(Ignore income taxes in this problem.) How much would you have to invest today in...

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Accounting

(Ignore income taxes in this problem.) How much would you have to invest today in the bank at an interest rate of 8% to have an annuity of $4,300 per year for 8 years, with nothing left in the bank at the end of the 8 years? Select the amount below that is closest to your answer.

a $24,711
b $37,152
c $34,400
d $2,752

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