单选题 An investor will receive an annuity of $ 5000 a year for seven years. The first payment is to be received 5 years from today. If the annual interest rate is 11.5 percent, what is the present value of the annuity?

A、

A. $13453.
B、

B. $23185.
C、

C. $15000.

【正确答案】 C

【答案解析】
With Pint=5000, N=7, I/Y 11.5, value (at t=4)=23185.175. Therefore, PV (at t=0)=23185.175/(1.115)⁴=$15000.68.