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Todd will gain access to his inheritance of $12,400 in exactly 3 years. Todd discounts cash at 5 percent annually. What is the minimum amount Todd

Todd will gain access to his inheritance of $12,400 in exactly 3 years. Todd discounts cash at 5 percent annually. What is the minimum amount Todd would accept today in exchange for his inheritance?


A) $7,440.00

B) $10,191.90

C) $11,247.17

D) $10,711.59

E) $10,631.00

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