A payment of $8,000 is due on May 15, 2023. What was the value of this obligation on May 15, 2008 if money can earn 12% compounded quarterly between the two dates?
A) $26,096.30
B) $5,952.75
C) $1,666.31
D) $2,452.45
E) $1,357.865

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The Answer of A payment of $8,000 is due on May 15, 2023. What was the value of this obligation on May 15, 2008 if money can earn 12% compounded quarterly between the two dates?
A) $26,096.30
B) $5,952.75
C) $1,666.31
D) $2,452.45
E) $1,357.865

A Payment of $8,000 Is Due on May 15, 2023