(Ignore income taxes in this problem.) A company wants to have $20,000 at the end of a ten-year period by investing a single sum now.How much needs to be invested in order to have the desired sum in ten years, if the money can be invested at 12%?

A) $3,254.68
B) $3,539.82
C) $6,440
D) $7,720

Ten-Year Period

A specific duration of time that encompasses ten consecutive years.

Desired Sum

The target amount of money or financial value aimed to be achieved within a specific period or under certain conditions.

Invested

The act of allocating money or capital to an endeavor with the expectation of obtaining an additional income or profit.