Question: Below is a table for the present value of $1 at compound interest. Year 6% 10% 12% 1 .943 .909 .893 2 .890 .826 .797

Below is a table for the present value of $1 at compound interest.

Year 6% 10% 12%
1 .943 .909 .893
2 .890 .826 .797
3 .840 .751 .712
4 .792 .683 .636
5 .747 .621 .567

Below is a table for the present value of an annuity of $1 at compound interest.

Year 6% 10% 12%
1 .943 .909 .893
2 1.833 1.736 1.690
3 2.673 2.487 2.402
4 3.465 3.170 3.037
5 4.212 3.791 3.605

Using the tables above, what is the present value of $6,000 (rounded to the nearest dollar) to be received at the end of each of the next 4 years, assuming an earnings rate of 10%?

a. $14,412
b. $20,790
c. $19,020
d. $25,272

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