Marshall Has Received an Inheritance and Wants to Invest a Sum

Multiple Choice

Marshall has received an inheritance and wants to invest a sum of money today that will yield $5,000 at the end of each of the next 10 years. Assuming he can earn an interest rate of 5% compounded annually, how much of his inheritance must he invest today? (^{PV of $1}, ^{FV of $1}, ^{PVA of $1}, and ^{FVA of $1}) (Use appropriate factor(s) from the tables provided.)

A) $45,125.00
B) $100,000.00
C) $47,500.00
D) $38,608.50
E) $50,000.00