Use This Information to Answer the Following Question What Amount Must Be Deposited Today to Grow to $450

question 79

Multiple Choice

Use this information to answer the following question. $$\begin{array} { | c | c | c | } \hline \text { Periods } & \text { Present Value af } \$ 1 \text { at } 7 \text { Percent } & \text { Present Value af Ordinary Annuity of } \\&&\text { \$1 at } 7 \text { Percent } \\1 & 0.935 & 0.935 \\\hline 2 & 0.873 & 1.808 \\\hline 3 & 0.816 & 2.624 \\\hline\end{array}$$ What amount must be deposited today to grow to $450 in three years?

• A) $331.00
• B) $367.20
• C) $171.49
• D) $420.75

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