What Is the Value Today of Receiving $3,000 at the End

question 8

Multiple Choice

What is the value today of receiving $3,000 at the end of each year for the next three years,assuming an interest rate of 3% compounded annually?

• A)$8,486.
• B)$8,251.
• C)$9,000.
• D)$9,273.

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Definitions:

Levator Scapulae

A muscle located in the back and neck that functions to elevate the scapula (shoulder blade).

Scapula

Bone forming the shoulder blade.

Pectoralis Minor

A thin, triangular muscle located beneath the pectoralis major in the chest, contributing to movements of the shoulder.

Rhomboideus Major

A skeletal muscle on the back that connects the spine to the scapula, playing a key role in retracting and stabilizing the shoulder.