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Present Value Calculation
Subject Category
Corporate Finance
Question Details
Your great aunt Matilda put some money in an account for you on the day you were born. This account pays 8% interest per year. On your21st birthday the account balance was $5,033.83.
The amount of money that your great aunt Matilda originally put in the account is closest to:
a. $1,000
b. $600
c. $1,200
d. $800

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