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Theo Just Won a Prize That Will Pay Him $12,000

Question 55

Multiple Choice

Theo just won a prize that will pay him $12,000 a year for 12 years,starting at the end of Year 12.What is the current value of this prize if the discount rate is 9 percent,compounded annually?


A) $34,282.98
B) $30,550.64
C) $33,300.20
D) $86,191.91
E) $85,928.70 Theo just won a prize that will pay him $12,000 a year for 12 years,starting at the end of Year 12.What is the current value of this prize if the discount rate is 9 percent,compounded annually? A) $34,282.98 B) $30,550.64 C) $33,300.20 D) $86,191.91 E) $85,928.70 Theo just won a prize that will pay him $12,000 a year for 12 years,starting at the end of Year 12.What is the current value of this prize if the discount rate is 9 percent,compounded annually? A) $34,282.98 B) $30,550.64 C) $33,300.20 D) $86,191.91 E) $85,928.70

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