Final answer:
To calculate the present value of $3,000 due in 5 years with a 6% interest rate compounded quarterly, we can use the present value formula. The present value is $2,227.41.
Step-by-step explanation:
To calculate the present value of $3,000 due in 5 years with a 6% interest rate compounded quarterly, we can use the present value formula. The formula is:
Present Value = Future Value / (1 + Interest Rate/Number of Periods)^(Number of Periods * Time)
Plugging in the values, we get:
Present Value = $3,000 / (1 + 0.06/4)^(4 * 5) = $2,227.41
Therefore, the present value of $3,000 due in 5 years is $2,227.41, which is option A.