Present Value of 1 Future Value of 1

question 34

Multiple Choice

Present Value of 1 Future Value of 1 Present Value of an Annuity of 1 Future Value of an Annuity of 1 Jackson has a loan that requires a $17,000 lump sum payment at the end of four years. The interest rate on the loan is 5%, compounded annually. How much did Jackson borrow today?

• A)$16,150
• B)$13,600
• C)$11,504
• D)$13,986
• E)$15,343

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Definitions:

Animals

Multicellular, eukaryotic organisms of the kingdom Animalia or Metazoa, characterized by their ability to move voluntarily, consume organic material, breathe oxygen, and reproduce sexually.

Choanoflagellates

Aquatic microorganisms thought to be the closest living relatives of animals, characterized by their flagellum and collar structure.

Foraminiferans

Marine protozoans characterized by their porous shells, or tests, through which pseudopodia extend for feeding and locomotion.

Rhizarians

A group of mostly unicellular eukaryotes, characterized by their production of pseudopods, which are extensions used for movement and feeding.