Find the Present Value

question 462

Multiple Choice

Find the present value. Round to the nearest cent.
-To get $25,000 after 6 years at 10% compounded semiannually

• A) $14,616.98
• B) $13,920.94
• C) $14,111.85
• D) $11,079.06

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Definitions:

Statutory Benefits

Mandatory benefits that employers are required to provide to employees by law, such as social security, workers' compensation, and minimum wage.

Federal Law

The body of law created by the federal government of a country, as opposed to state or local laws, which governs issues like commerce, taxation, and civil rights.

State Law

Legal regulations established and enforced by individual states within a country.

National Labor Relations Act

A foundational US law enacted in 1935 that protects the rights of employees and employers, encourages collective bargaining, and curtails certain private sector labor and management practices that can harm the general welfare.