If an Investment Has a Goal (Future Value) of $S

Multiple Choice

If an investment has a goal (future value) of $S after n years, invested at interest rate i (as a decimal) , compounded annually, then the present value P that must be invested is given by Find P for the given S, n, and i. Round your answer to two decimal places. $24,000 after 10 years at 7.75%

A) $10,712.11
B) $13,287.89
C) $11,377.28
D) $13,209.09
E) $12,622.72