Using the Present Value Tables, Compute the Present Value of an Ordinary

question 106

Multiple Choice

Using the present value tables, compute the present value of an ordinary annuity which pays $3,000 per year for 15 years, discounted at 9%.

• A)$24,183
• B)$24,200
• C)$23,180
• D)$25,390

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Definitions:

Clergy

A group of people ordained for religious duties, especially in Christian traditions.

Moral Therapy

A 19th-century approach to treating mental illness that emphasized humane treatment, moral discipline, and the therapeutic benefits of a structured environment.

Northern England

A geographical region of England, characterized by its distinct cultural and historical identity, encompassing cities like Manchester, Liverpool, and Newcastle.

William Tuke

A pioneering figure in the reform of mental health care in the 18th century, known for promoting humane treatment.