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
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, what is the present value of $6,000 to be received at the end of each of the next 4 years, assuming an earnings rate of 10%?
| a. | $20,790 | |
| b. | $14,412 | |
| c. | $19,020 | |
| d. | $25,272 |
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Internal Auditing As A Career
Authors: Richa Yamini Goel
1st Edition
B09RMBWZ2L, 979-8412866512
