The answer is (B). but from where he get: 1.690
(Ignore income taxes in this problem.) Henry wants to send hisson to computer school which will start one year from today.Payments of $2,000 are due at the end of each of the next twoyears. What lump-sum will Henry have to invest now at 12% per yearin order to have $2,000 at the end of each of the next twoyears?
A. $4,240B. $3,380C. $1,594D. $2,508
PV of ordinary annuity = 2,000 x 1.690
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