Calculate, to the nearest cent, the present value of an investment that will be worth $16,000 after 7 years, at 7.4% compounded quarterly.
A) $P V = \$ 9,546.55$
B) $P V = \$ 15,326.06$
C) $P V = \$ 9,707.11$
D) $P V = \$ 15,337.91$
E) $P V = \$ 9,576.59$

Question

Calculate, to the nearest cent, the present value of an investment that will be worth $16,000 after 7 years, at 7.4% compounded quarterly.  
A) $P V = \$ 9,546.55$
B)   $P V = \$ 15,326.06$
C)   $P V = \$ 9,707.11$
D)   $P V = \$ 15,337.91$
E)   $P V = \$ 9,576.59$

Quizplus · Accepted Answer

The Answer of Calculate, to the nearest cent, the present value of an investment that will be worth $16,000 after 7 years, at 7.4% compounded quarterly.  
A) $P V = \$ 9,546.55$
B)   $P V = \$ 15,326.06$
C)   $P V = \$ 9,707.11$
D)   $P V = \$ 15,337.91$
E)   $P V = \$ 9,576.59$

Calculate, to the Nearest Cent, the Present Value of an Investment