Assume You Have to Make Payments of $44,000 One Year

question 43

Multiple Choice

Assume you have to make payments of $44,000 one year from now, another $48,400 in two years, and a final $39,930 in three years.If a bank paid a fixed interest rate of i = 10% over the next three years, how much money would you have to put into the bank now to be able to makes these payments?

• A)$132,330
• B)$120,300
• C)$120,000
• D)$110,000
• E)$100,000

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