Calculate the Present Value of Five Payments of $1500

question 60

Multiple Choice

Calculate the present value of five payments of $1500.00 made at the end of each of five consecutive years respectively if money is worth 6% compounded annually.

• A) $7950.00
• B) $7486.52
• C) $7050.00
• D) $6318.55
• E) $7486.00

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