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:

Economic Influence

The impact that economic factors, policies, or conditions have on the behavior of individuals, businesses, and governments.

Political Influence

The capacity to affect the decisions, actions, or policies of political leaders or institutions.

Rite of Passage

A ceremonial event marking an important stage in an individual's life, such as birth, puberty, marriage, or death.

Social Status

The position or rank of a person or group within the social hierarchy, which can be determined by factors such as wealth, occupation, education, or family lineage.