单选题 There is 5-year annuity of $ 3000 per year. However, the first payment will not pay until year 3. Assuming the interest rate is 10% , calculate the present value of this annuity.

A、

A. $ 8397.
B、

B. $ 9399.
C、

C. $ 10258.

【正确答案】 B

【答案解析】Step 1: Solve for the PV of the 5 payments of 3000 to be received in years 3 through 7. N=5; I=10; PMT=3000; CPT PV=11372.36 11372.36 falls one year before the first payment, or in year 2. Step 2: Find the present value of 11372.36 that is two years in the future. N=2; I=10; FV=11372.36; CPT PV=9398.64 or 9399(rounded).