If the Current Rate of Interest Is 8%, Then the Present

question 47

Multiple Choice

If the current rate of interest is 8%, then the present value (PV) of an investment that pays $1200 per year and lasts 24 years is closest to ________.

• A) $7581
• B) $15,162
• C) $12,635
• D) $17,689

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Definitions:

Error-Free

Describes a process or outcome that does not contain any mistakes or inaccuracies.

Practicum

A supervised employment experience in a qualified health care facility as part of the educational curriculum; also known as an externship.

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An organization that matches employers to employees, typically operating in the private sector and charging a fee for its services.

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The amount of money earned by an individual in the first year of employment.