What Is the Present Value of a $1,000 Per Year

question 92

Multiple Choice

What is the present value of a $1,000 per year annuity for five years at an interest rate of 12 percent?

• A)$6,352.85
• B)$3,604.78
• C)$567.43
• D)$2,743.28

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Definitions:

Work Organization

A structure established to arrange the roles, responsibilities, and relationships within a workplace, ensuring that the goals and objectives are efficiently met.

Bureaucratic

Relating to or characteristic of a bureaucracy, often implying a complex system of administration marked by officialism, hierarchy, and inflexibility.

Voluntary Part-time Workers

Individuals who choose to work hours less than the standard full-time work schedule, not due to economic necessity but personal choice.

Official Statistics

Quantitative data and information collected and published by governmental agencies or institutions for economic, demographic, and social analysis.