Question - Below is a table for the present value of $1 at Compound interest.
|
Year
|
6%
|
10%
|
12%
|
|
1
|
0.943
|
0.909
|
0.893
|
|
2
|
0.890
|
0.826
|
0.797
|
|
3
|
0.840
|
0.751
|
0.712
|
|
4
|
0.792
|
0.683
|
0.636
|
|
5
|
0.747
|
0.621
|
0.567
|
Below is a table for the present value of an annuity of $1 at compound interest.
|
Year
|
6%
|
10%
|
12%
|
|
1
|
0.943
|
0.909
|
0.893
|
|
2
|
1.833
|
1.736
|
1.690
|
|
3
|
2.673
|
2.487
|
2.402
|
|
4
|
3.465
|
3.170
|
3.037
|
|
5
|
4.212
|
3.791
|
3.605
|
Using the tables above, determine the present value of $13,517.00 (rounded to the nearest dollar) to be received at the end of each of the next 3 years, assuming an earnings rate of 10%.
Select the correct answer.
$13,517
$17,572
$12,165
$33,617