What is the present value (today) of $8000 deposited at the end of years 3, 4, 5, 6, 7

and 8 (a total of 6 deposits) assuming an interest rate of 8.25% p.a.?

$31,170.77

2) $31,671.15

3) $31,475.73

4) None of the values in this list are within $10 of the correct answer.

5) $31,322.77