The Present Value of a Sum of Money Is the Amount

Multiple Choice

The present value of a sum of money is the amount that must be invested now, at a given rate of interest, to produce the desired sum at a later date.Find the present value of $100,000 if interest is paid
At a rate of 5% per year, compounded semiannually, for 8 years.

A) $46,319.35
B) $67,362.49
C) $67,683.94
D) $53,390.82
E) $5,408.79