Jason Has a Loan That Requires a Single Payment of $4,000

Multiple Choice

Jason has a loan that requires a single payment of $4,000 at the end of 3 years.The loan's interest rate is 6%,compounded semiannually.How much did Jason borrow? (PV of $1,FV of $1,PVA of $1,and FVA of $1) $\bold{\text{(Use appropriate factor(s) from the tables provided.) }}$

A) $3,358.40
B) $4,000.00
C) $3,660.40
D) $4,776.40
E) $3,350.00