Given an 8 Percent Interest Rate, Compute the Present Value

Multiple Choice

Given an 8 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $900, $800, $700, and $600.

A) $2,409.33
B) $2,515.90
C) $2,591.72
D) $2,611.38