Use the Present Value Formula to Determine the Amount to Be

question 202

Multiple Choice

Use the present value formula to determine the amount to be invested now, or the present value needed.
-The desired accumulated amount is $20,800 after 15 years invested in an account with 5% interest Compounded annually.

• A) $10,505.41
• B) $43,241.71
• C) $10,005.16
• D) $10,794.84

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