The Present Value of an Ordinary Annuity with Equal Monthly

question 61

Multiple Choice

The present value of an ordinary annuity with equal monthly payments of $300 over the next four years,assuming market interest rates are 12% per annum,is:

• A) $911.20
• B) $1170.59
• C) $11 392.19
• D) $18 366.78

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Definitions:

Toe Wrestling

A competitive sport where two opponents lock toes and attempt to pin each other's foot down.

Bog Snorkeling

A sporting event in which competitors race to complete a course in a water-filled trench cut through a peat bog, using snorkels and flippers but without traditional swimming strokes.

Worm Charming

A quirky activity where participants attempt to entice worms from the ground, often through vibrations.

Order Of Importance

A principle or method of organizing information or tasks by giving precedence to the most important or urgent items first.