Present and future value tables of $1 at 3% are presented below:

N FV$1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000

2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087

3 1.09273 0.91514 3.0909 2.82861 3.1836 2.91347

4 1.12551 0.88849 4.1836 3.71710 4.3091 3.82861

5 1.15927 0.86261 5.3091 4.57971 5.4684 4.71710

6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971

7 1.22987 0.81309 7.6625 6.23028 7.8923 6.41719

8 1.26677 0.78941 8.8923 7.01969 9.1591 7.23028

9 1.30477 0.766421 0.1591 7.786111 0.4639 8.01969

10 1.34392 0.744091 1.4639 8.530201 1.8078 8.78611

11 1.38423 0.722421 2.8078 9.252621 3.1920 9.53020

12 1.42576 0.701381 4.1920 9.954001 4.61781 0.25262

13 1.46853 0.680951 5.61781 0.634961 6.08631 0.95400

14 1.51259 0.661121 7.08631 1.296071 7.59891 1.63496

15 1.55797. 0.641861 8.59891 1.937941 9.15691 2.29607

16 1.60471 0.623172 0.15691 2.561102 0.76161 2.93794

Bill wants to give Maria a $570,000 gift in 4 years. If money is worth 6% compounded semiannually, what is Maria's gift worth today?

Multiple Choice

• $451,489.
• $448,569.
• $449,964.
• $567,250.