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Salvatore has the opportunity to invest in a scheme which will pay $10,000 at the end of each of the next 5 years. He must
Salvatore has the opportunity to invest in a scheme which will pay $10,000 at the end of each of the next 5 years. He must invest $20,000 at the start of the first year and an additional $20,000 at the end of the first year. What is the present value of this investment if the interest rate is 3%?
A.
$6,379.6
B.
$11,815.14
C.
11815.14
D.
-$6,379.6
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