Find the Present Value of an Annuity with Annual Payments $\quad P V = \$ 42,961.75$

question 120

Multiple Choice

Find the present value of an annuity with annual payments of $3,250 at 5.45%, compounded annually for 24 years.Round to the nearest cent.

• A) \(\quad P V = \$ 42,961.75\)
• B) \(\quad P V = \$ 40,799.07\)
• C) \(\quad P V = \$ 82,251.00\)
• D) \(\quad P V = \$ 42,946.39\)
• E) \(\quad P V = \$ 42,931.03\)

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Definitions:

Cognitive-Affective Personality System (CAPS)

A theory that emphasizes the importance of situational variables and cognitive processes in understanding personality.

Cognitive-Affective Personality System (CAPS)

A psychological theory that emphasizes the interaction of cognitive and emotional processes in shaping personality.

Personality System

The organized set of characteristics, traits, and behaviors that uniquely define how a person interacts with the environment and others.

Insight

The ability to understand the inner nature of things or a deep understanding of a person or situation.