What Is the Present Value of a $600 Annuity Payment

question 20

Multiple Choice

What is the present value of a $600 annuity payment over 4 years if interest rates are 6 percent?

• A) $475.26
• B) $757.49
• C) $2,079.06
• D) $3,145.28

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Definitions:

Import Statement

A directive used in many programming languages that brings in code from external modules, libraries, or namespaces into the current program.

Java.lang Package

The package in Java that provides classes that are fundamental to the design of the Java programming language.

System.out.printf

A method in Java used to print formatted strings to the console or other output stream.

Decimal Number

A number that is represented using a decimal system, which is based on ten, using digits 0 through 9.