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I started this problem using the P=(1+i)^n formula and am getting 77,393.70 for my answer, which...

I started this problem using the P=(1+i)^n formula and am getting 77,393.70 for my answer, which is nowhere near the solutions give. Could someone help me solve this?

You will receive an inheritance of $20,000 in the future. The interest rate is 7% per year (compounded yearly). How much is the inheritance worth now, if it will be received in 20 years.

a. $40,175.00

b. $52,739.48

c. $5,168.38

d. $10,923.90

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