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

question 134

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)$30,935
• B)$27,870
• C)$13,424
• D)$12,093

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Definitions:

Unanimous Opinion

A judicial decision where all judges or justices agree on the outcome and reasoning of a case.

Judges

Officials appointed or elected to preside over court proceedings, making legal judgments and decisions.

Justices

Judges of supreme or high courts who hold the authority to interpret and apply the law in the judicial system.

Executive Branch

The branch of government responsible for enforcing laws, headed by the President at the national level or a governor at the state level.