Pearson Corporation makes an investment today (January 1, 2014). They will receive $9,000 every December 31 for the next six years (2014–2019). If Pearson wants to earn 12% on the investment, what is the most they should invest on January 1, 2014?
A. $37,003
B. $41,443
C. $73,036
D. $81,801
Answer:A
Pearson Corporation makes an investment today (January 1, 2014). They will receive $9,000 every December 31 for the next six years (2014–2019). If Pearson wants to earn 12% on the investment, what is the most they should invest on January 1, 2014?
A. $37,003 B. $41,443 C. $73,036 D. $81,801