Assume That You Have the Opportunity to Receive $9,000 at the End

Multiple Choice

Assume that you have the opportunity to receive $9,000 at the end of each of the next seven years. Given an interest rate of 7%, how much would you be willing to pay for this investment today? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest dollar.)

A) $42,899
B) $48,504
C) $46,857
D) $53,742