The Present Value of an Ordinary Annuity of $2,350 Each

question 70

Multiple Choice

The present value of an ordinary annuity of $2,350 each year for eight years, assuming an opportunity cost of 11 percent, is ________.

• A) $ 1,020
• B) $27,869
• C) $18,800
• D) $12,093

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Definitions:

Macro Tools Design Tab

A section in software like Microsoft Excel where users can create, edit, and manage macros.

Run Button

A user interface element that, when clicked, executes a particular piece of code or program.

Macro

A set of automated instructions or tasks that can be initiated by a single command to streamline repetitive processes.

Perform

To carry out an action or series of actions; to execute a task or function.