What Is the Present Value of an Ordinary Annuity of $1550

question 45

Multiple Choice

What is the present value of an ordinary annuity of $1550 each year for 15 years, with an interest rate of 6.6 percent per annum?

• A)$17 589
• B)$16 500
• C)$14 481
• D)$10 500

---

Definitions:

Formulating Strategies

The process of creating plans and actions that define the direction of an organization or individual to achieve specific goals.

Implementing Strategies

The action phase where planned strategies are executed to achieve the organization's objectives.

Evaluating Strategies

The process of assessing the effectiveness and efficiency of different business strategies to meet organizational goals and objectives.

Benchmarking

The practice of comparing business processes and performance metrics to industry bests or best practices from other industries to improve performance.