Present and future value tables of $1 at 9% are presented below.

-How much must be deposited at the beginning of each year to accumulate to $10,000 in four years if interest is at 9%?
A) $1,671.
B) $2,570.
C) $2,358.
D) $2,006.

Question

Present and future value tables of $1 at 9% are presented below.

-How much must be deposited at the beginning of each year to accumulate to $10,000 in four years if interest is at 9%?
A) $1,671. 
B) $2,570. 
C) $2,358. 
D) $2,006.

Quizplus · Accepted Answer

$10,000 ÷ 4.9847* = $2,006
*FVAD of $1: n = 4; i = 9%

Present and Future Value Tables of $1 at 9% Are