Find the Present Value of $57,939 Due in 6 Year(s)

question 138

Multiple Choice

Find the present value of $57,939 due in 6 year(s) at an interest rate of 9% / year compounded continuously. Round your answer to the nearest integer.

• A) $34,547
• B) $33,766
• C) $34,165
• D) $33,764

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Definitions:

Qualified Opinion

An auditor's opinion that a company's financial statements are accurate but with certain reservations or exceptions noted by the auditor.

Auditor

A professional who reviews and verifies the accuracy of financial records and ensures compliance with applicable laws and regulations.

Liability

The legal responsibility for one's actions or omissions, often leading to the requirement to compensate for damages or losses caused.

Work Papers

Work Papers refer to documents prepared or obtained by auditors as part of their examination and review of an organization's financial statements.