If $1,000 is invested at 3 percent per year for 10 years the investment grows to $1,343.92. This means the present value $1,343.92 at an interest rate of 3 percent 10 years from now is

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The question is asking for the present value of $1,343.92 10 years from now at an interest rate of 3 percent. Since the initial investment of $1,000 grew to $1,343.92 over 10 years at 3 percent interest, we can conclude that $1,000 is the present value of $1,343.92 at an interest rate of 3 percent. Therefore, the answer is (C) $1,000.

If $1,000 Is Invested at 3 Percent Per Year for 10