1. Below is a table for the present value of $1 at compound interest.
3. Year
4. 6%
5. 10%
6. 12%
7. 1
8. 0.943
9. 0.909
10. 0.893
11. 2
12. 0.890
13. 0.826
14. 0.797
15. 3
16. 0.840
17. 0.751
18. 0.712
19. 4
20. 0.792
21. 0.683
22. 0.636
23. 5
24. 0.747
25. 0.621
26. 0.567
28. Below is a table for the present value of an annuity of $1 at compound interest.
30. Year
31. 6%
32. 10%
33. 12%
34. 1
35. 0.943
36. 0.909
37. 0.893
38. 2
39. 1.833
40. 1.736
41. 1.690
42. 3
43. 2.673
44. 2.487
45. 2.402
46. 4
47. 3.465
48. 3.170
49. 3.037
50. 5
51. 4.212
52. 3.791
53. 3.605
57. Using the tables above, what is the present value of $3,000 (rounded to the nearest dollar) to be received at the end ofeachof the next 4 years, assuming an earnings rate of 12%?
58. a.$1,908
59. b.$9,111
60. c.$10,815
61. d.$7,206