Following Is a Table for the Present Value of $1

question 47

Multiple Choice

Following is a table for the present value of $1 at compound interest: Following is a table for the present value of an annuity of $1 at compound interest: ​
-Using the tables provided, the present value of $3,000 (rounded to the nearest dollar) to be received at the end of each of the next 4 years, assuming an earnings rate of 12%, is

• A)$10,815
• B)$7,206
• C)$9,111
• D)$1,908

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Definitions:

Fiscal Year

A 12-month period used for accounting purposes and preparing financial statements that may not align with the calendar year.

Fiscal Year

A one-year period used by governments and businesses for accounting and budget purposes, which may not coincide with the calendar year.

Budget Deficit

The financial situation in which expenditures exceed revenue over a specific period, leading to a shortfall that must be financed through borrowing.

Federal Outlays

Government expenditures, including spending on goods and services, transfer payments, and interest on debt.