Find the Present Value for the Given Future Amount

question 16

Multiple Choice

Find the present value for the given future amount. Round to the nearest cent.
-A = $4200, 9 years r = 8% compounded annually

• A)$8395.82
• B)$2269.13
• C)$2098.95
• D)$2101.05

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Definitions:

Secretion

The process by which substances are produced and discharged from a cell or gland.

Urine Concentration

The process by which the kidneys regulate the electrolyte balance and water content in the body by adjusting the volume and concentration of urine.

Antidiuretic Hormone

A hormone also known as vasopressin that helps control the balance of water in the body by reducing the amount of water excreted in the urine.

Insulin

Pancreatic hormone that encourages uptake of glucose by target cells; lowers level of glucose in the blood.