Problem:
You have an investment with 16 quarterly cash flows of $2000. The first payment is 3 months from today.
Required:
Question: If the EAR is 9%, what is the present value of this investment?
A) $26,776.78
B) $27,549.15
C) $27,972.22
D) $28,013.13
E) $28,437.40
Note: Provide specific examples to support your answers.