What Is the Present Value of an Annual Payment of $1,500

question 124

Multiple Choice

What is the present value of an annual payment of $1,500 discounted back 15 years at an annual rate of return of 3%?

• A)$10,663.87
• B)$12,334.56
• C)$13,449.87
• D)$17,906.90

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Definitions:

Computer Ownership

Indicates the possession or acquisition of computers by individuals or organizations, reflecting aspects of accessibility, literacy, and technological advancement.

Health-Care System

An organized plan of health services to meet the health needs of individuals or populations through various health professionals and resources.

Legislation Proposed

Refers to bills or laws that have been introduced to a legislative body for consideration and potential passing into law.

Tempers Flared

A phrase indicating that emotions, especially anger or frustration, have escalated in intensity among individuals.