Which of the Following Choices Is Closest to the Amount

Multiple Choice

Which of the following choices is closest to the amount of money that must be invested today in order to have $25,000 at the end of four years if the rate of return is 12% compounded annually? Use appendix Table 1, Table 2, Table 3 and Table 4.

A) $15,900.
B) $17,100.
C) $19,900.
D) $22,300.
E) None of the answers is correct.