Assuming that today is the end of $2020,$ you are considering investing $$8,000$ in your investment account from the end of $2021.$ The amount of investment will increase at a rate of $5\%$ per year. You plan to end your contribution to the investment account by the end of $2028.$ If the annual return of the investment account is expected to be $8\%,$ the present value of the investment is:

A$.$ $$99,593$ 

B$.$ $$47,725$ 

C$.$ $$81,793$ 

D$.$ $$53,807$ 

Answer rating: 100% (QA)

To calculate the present value of the investment we need to find the future value of the investment ... View the full answer