The Following Figure Shows a Graph That Compares the Present

question 66

Multiple Choice

The following figure shows a graph that compares the present values of two ordinary annuities of $800 quarterly as functions of the number of quarters. One annuity is at an annual rate of 6% compounded quarterly, and the other is at 9% compounded quarterly. What present value is required to purchase an annuity of $800 a quarter for 25 years with an interest rate of 9% compounded quarterly? Check your answer against the graph. Round your answer to the nearest cent. ​ ​

• A)$31,713.39
• B)$40,440.73
• C)$27,577.08
• D)$39,107.20
• E)$52,000.00

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Definitions:

Taxonomic Groups

Categories used in the classification of organisms, arranged in a hierarchical system that ranges from broad to specific, such as kingdom, phylum, class, order, family, genus, and species.

Fossil Record

The collection of fossils, which are the preserved remains or imprints of organisms, providing historical evidence of life on Earth.

Bacteria

Microscopic single-celled organisms that can be found in various environments, some of which can cause disease while others are beneficial.

Mammals

A class of warm-blooded vertebrate animals characterized by the presence of mammary glands which in females produce milk for feeding their young.