Calculate, to the Nearest Cent, the Present Value of an Investment

question 94

Multiple Choice

Calculate, to the nearest cent, the present value of an investment that will be worth $16,000 after 7 years, at 7.4% compounded quarterly.

• A) \(P V = \$ 9,546.55\)
• B) \(P V = \$ 15,326.06\)
• C) \(P V = \$ 9,707.11\)
• D) \(P V = \$ 15,337.91\)
• E) \(P V = \$ 9,576.59\)