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value: 2.75 points TB MC Qu. 8A-08 (Ignore income taxes in this.. Ignore income taxes in this problem.) Blake Sheling opened his mail to find
value: 2.75 points TB MC Qu. 8A-08 (Ignore income taxes in this.. Ignore income taxes in this problem.) Blake Sheling opened his mail to find an inheritance check from his recently deceased relative in the amount of $8,500. Getting wind of this inheritance, Blake plans a trip to Fiji and hopes that in five years we will have a vaccine for COVID-19 and he will be able to travel there safely. He has estimated the trip will cost $5,500. What amount of his inheritance check that he got (in the amount of: 8.500) should Blake set aside assuming the rate of return on his deposit is 5% annually so that he has the estimated amount for his vacation of $5,500 in five years? Click here to view Exhibit 8B-1 and Exhibit 8B-2 to determine the appropriate discount factor(s) using tables. O $4,012 $4,312 $3,477 $5,500
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