What's the Present Value of a 4-Year Ordinary Annuity of $2,250

question 32

Multiple Choice

What's the present value of a 4-year ordinary annuity of $2,250 per year plus an additional $3,000 at the end of Year 4 if the interest rate is 5%?

• A)$8,956.56
• B)$9,427.96
• C)$9,924.17
• D)$10,446.50

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Definitions:

State Legislation

Laws and statutes that are enacted by the legislative bodies of individual states within a federal system, addressing issues within the state's jurisdiction.

Checks and Balances

A system that ensures no single branch of government becomes too powerful, typically through the ability of different branches to check each other's powers.

Monarchical Tendencies

Behaviors or practices within a political or organizational structure that resemble or lean towards a monarchy, such as centralized control or hereditary leadership.

Lust for Power

An intense desire or ambition to hold and exert power or control over others.