Below is a table for the present value of $1 at Compound interest.
Year 6% 10% 12%
1 0.943 0.909 0.893
2 0.890 0.826 0.797
3 0.840 0.751 0.712
4 0.792 0.683 0.636
5 0.747 0.621 0.567
Below is a table for the present value of an annuity of $1 at compound interest.
Year 6% 10% 12%
1 0.943 0.909 0.893
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, determine the present value of $13,517.00 (rounded to the nearest dollar) to be received at the end of each of the next 3 years, assuming an earnings rate of 10%.
a. $13,517
b. $17,572
c. $12,165
d. $33,617