You Recently Won a Contest Sponsored by a Local Radio

question 174

Multiple Choice

You recently won a contest sponsored by a local radio station. The radio station will pay you $3000 at the end of each of the next 11 years. Assuming an interest rate of 3%, what is the present value of this prize? Present Value of $1
Present Value of Annuity of $1

• A)$38,424
• B)$27,759
• C)$25,590
• D)$47,811

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Definitions:

Functional Magnetic Resonance

An imaging technique used to measure and map brain activity by detecting changes associated with blood flow.

Computed Tomography

A diagnostic imaging technique that uses a series of computer-processed X-rays to create detailed cross-sectional images of the body.

Magnetic Resonance Imaging

A medical imaging technique used to form pictures of the anatomy and physiological processes of the body, using strong magnetic fields and radio waves.

Electroencephalography

A noninvasive test that involves placing sensors on the scalp to detect electrical activity in the brain.