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Question(s) / Instruction(s):

Using the following partial table of present value of $1 at compound interest, determine the present value of $20,000 to be received four years hence, with earnings at the rate of 10% a year.

Year       6%         10%        12%

1              .943        .909        .893

2              .890        .826        .797

3              .840        .751        .712

4              .792        .683        .636

A.            $13,660

B.            $12,720

C.            $15,840

D.            $10,400

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