Find the Present Value of an Annuity with Annual Payments $\quad P V = \$ 42,961.75$

Multiple Choice

Find the present value of an annuity with annual payments of $3,250 at 5.45%, compounded annually for 24 years.Round to the nearest cent.

A) $\quad P V = \$ 42,961.75$
B) $\quad P V = \$ 40,799.07$
C) $\quad P V = \$ 82,251.00$
D) $\quad P V = \$ 42,946.39$
E) $\quad P V = \$ 42,931.03$