Andrea's Opportunity Cost Rate Is 12 Percent Compounded Annually

Multiple Choice

Andrea's opportunity cost rate is 12 percent compounded annually. How much must he deposit in an account today if he wants to receive $2,100 at the beginning of each of the next seven years? Use the equation method to determine the amount.

A) $10,772
B) $11,625
C) $10,998
D) $11,887
E) $12,564