Find the Present Value of the Annuity

question 44

Multiple Choice

Find the present value of the annuity. Round to the nearest cent.
-Payments of $60,000 made semiannually for 12 years at 5% compounded semiannually

• A)$1,134,835.80
• B)$1,039,926.60
• C)$1,073,099.40
• D)$531,795.00

---

Definitions:

Accounting Major

A field of study focused on managing and analyzing financial transactions, reports, and statements for individuals and organizations.

Part-Time JANITOR

An individual employed to clean and maintain a building or facilities for less than the customary full-time working hours.

First Job

The initial employment position one has, marking the start of their professional career.

Career Center

A facility or office, often associated with academic institutions, providing resources, counseling, and support for job search and career development.