Find the Present Value

question 257

Multiple Choice

Find the present value. Round to the nearest cent.
-To get $5600 after 8 years at 5% compounded annually

• A) $3,639.62
• B) $2,260.9
• C) $5,962.67
• D) $3790.30

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Definitions:

Dependent Variable

The component in an experiment or research that is foreseen to shift following changes in the independent variable.

Independent Variable

A variable often denoted as x, whose variation does not depend on that of another.

Correlation Coefficient

A statistical measure that calculates the strength and direction of the linear relationship between two variables.

Correlation Coefficient

An index assessing the power of association between a pair of variables.