What's the Present Value of $11,500 Discounted Back 5 Years

question 96

Multiple Choice

What's the present value of $11,500 discounted back 5 years if the appropriate interest rate is 4.5%,compounded semiannually?

• A) $9,205.87
• B) $9,113.81
• C) $10,126.45
• D) $10,678.81
• E) $9,574.10

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Definitions:

Ethically Bound

Obligation to adhere to a set of moral principles and standards of behavior, particularly in professional settings.

Eyewitness Testimony

Evidence given by a person who has witnessed an event or crime, regarding their observations.

Legal System

The system of rules and guidelines, usually enforced through a set of institutions, used to govern a community, society, or country.

Confidence

The feeling of self-assurance arising from an appreciation of one's own abilities or qualities.