At an Annual Interest Rate of 7%,the Present Value of $5000

question 5

Multiple Choice

At an annual interest rate of 7%,the present value of $5000 received in five years is closest to:

• A)$3565.
• B)$6750.
• C)$7015.
• D)$7035.

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Definitions:

Confidence interval

A range of values, derived from the sample statistics, that is likely to contain the value of an unknown population parameter.

Confidence interval

An estimated range of values calculated from sample data that is likely to include the true population parameter with a specified level of confidence.

Average hourly income

The average amount of money earned by an individual or group per hour worked.

Confidence interval

A palette of statistical results, extracted from samples, aiming to encompass the unspecified value of a population attribute.