If the interest rate is 3% and a total of $4,370.91 will be paid to you at the end of 3 years, what is the present value of that sum?
A) $3900, B) $3947 C) $3,977.40 D) $4000
The correct answer among all the other choices is C) $3,977.40. This is the present value of the sum if the interest rate is 3% and a total of $4,370.91 will be paid to you at the end of 3 years. Thank you for posting your question. I hope this answer helped you. Let me know if you need more help.
