Given a 4 Percent Interest Rate, Compute the Present Value

Multiple Choice

Given a 4 percent interest rate, compute the present value of deposits made in years 1, 2, 3, and 4 of $1,000, $1,200, $1,200, and $1,400.

A) $4,103.06
B) $4,334.53
C) $4,615.38
D) $4,804.00