What Is the Present Value of a $1,100 Payment Made

question 55

Multiple Choice

What is the present value of a $1,100 payment made every year forever when interest rates are 4.5 percent?

• A) $11,100
• B) $21,089.37
• C) $22,963.14
• D) $24,444.44

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Definitions:

Built-in Access Function

Predefined functions in Microsoft Access that perform operations on data, such as mathematical calculations and string manipulations.

End Function

Refers to a command in programming languages like Visual Basic that marks the end of a function, signaling its termination.

VBA Code

Stands for Visual Basic for Applications code, which is used to automate tasks and manipulate user interface features in applications like Microsoft Excel.

Class Modules

In programming, a container for code that defines the properties, methods, and events for objects, modeling real-world entities or concepts in object-oriented languages.