You recently won a contest sponsored by a local radio station. The radio station will...
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You recently won a contest sponsored by a local radio station. The radio station will pay you $3,000 at the end of each of the next 12 years. Assuming an interest rate of 3%, what is the present value of this prize? (Click the icon to view the present value of $1 table.) Click the icon to view the present value of annuity of $1 table.) O A. $29,862 O B. $50,808 OC. $27,759 OD. $42,576 i Data Table - X b . 6% 0 Present Value of $1 Periods 10 11 12 13 14 15 2% .820 0.804 0.788 0.773 0.758 0.743 3% 0.744 0.722 0.701 0.681 0.661 0.642 4% 0.676 0.650 0.625 0.601 0.577 0.555 5% 0.614 0.585 0.557 0.558 0.527 0.497 0.469 0.442 0.417 530 0.505 0.481 Print Done 1 Data Table 11 8 Present Value of Annuity of $1. Periods 2% 10 8 .983 9.787 12 10.575 13 11.348 12.106 15 12.849 3% 8.530 9.253 9.954 10.635 11.296 11.938 4% 8.111 .760 9.385 9.986 10.563 11.118 5% 7.722 8.306 8.863 9.394 9.899 10.380 6% 7.360 7.887 8.384 8.853 9.295 9.712 14 Print Done
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