Sam's uncle promised to give him $7,000 when he graduates from college three years from now.Assuming an interest rate of 8 percent compounded annually,what is the value of Sam's gift right now?
A)$5,504.22
B)$5,510.78
C)$5,556.83
D)$5,555.55

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The Answer of Sam's uncle promised to give him $7,000 when he graduates from college three years from now.Assuming an interest rate of 8 percent compounded annually,what is the value of Sam's gift right now?
A)$5,504.22
B)$5,510.78
C)$5,556.83
D)$5,555.55

Sam's Uncle Promised to Give Him $7,000 When He Graduates