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Assume that it is the end of 2020 and you have decided to start an investment plan at the end of 2024. At that time,

Assume that it is the end of 2020 and you have decided to start an investment plan at the end of 2024. At that time, you will invest $5,000 with this investment growing at a constant rate of 4% p.a. over the foreseeable future. If the interest rate appropriate for valuing your investment plan is 12% p.a. its present value today is closest to:

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