Present value: Jack Robbins is saving for a new car. He needs to have $ 21,000 for the car in three years. How much will he have to invest today in an account paying 8 percent annually to achieve his target? (Round to nearest dollar.)
A) $16,935
B) $26,454
C) $16,670
D) $19,444

Question

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The Answer of Present value: Jack Robbins is saving for a new car. He needs to have $ 21,000 for the car in three years. How much will he have to invest today in an account paying 8 percent annually to achieve his target? (Round to nearest dollar.)
A) $16,935
B) $26,454
C) $16,670
D) $19,444

Present Value: Jack Robbins Is Saving for a New Car