Find the Present Value for the Given Future Amount

question 169

Multiple Choice

Find the present value for the given future amount. Round to the nearest cent.
-A = $12,400, 3 years r = 4% compounded annually

• A)$11,023.55
• B)$1376.45
• C)$13,948.31
• D)$11,464.50

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Definitions:

Dieric Bouts

A Northern Renaissance painter from the Netherlands, known for his religious scenes and for advancing the manner of showing spatial depth in art.

Giovani Arnolfini

Likely an error for "Giovanni Arnolfini," who is famously portrayed with his wife in Jan van Eyck’s painting "The Arnolfini Portrait," symbolizing wealth and domestic life in 15th century Bruges.

Man in a Red Turban

A famous 1433 portrait by Jan van Eyck, often thought to be a self-portrait of the artist, notable for its detailed depiction of the subject and the use of oil paint.

Madonna in a Church

An art motif depicting the Virgin Mary inside a church, signifying her revered status in Christianity and often highlighting Gothic or Romanesque architectural elements.