Mathematics

21 April, 22:43

Ben sold his small online business for $100,000. The purchaser will pay him $20,000 today, then $20,000 every year for the next four years. Assume

that Ben could invest a lump-sum payment today in an account yielding an interest rate of 4% annually. Find the total present value of all five

payments

A.

$87,096

B

$88,384

c. $92,598

D. $93,964

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