Music producer, will receive royalties over a period of 3 years for the theme song she made for a TV program. The amount will be received at the end of each year as follows. Amount End of Year 1 R50 000 End of Year 2 R30 000 End of Year 3 R10 000 Find the present value (at the beginning of the first year) of all future royalties at a compound interest rate of 8% pa. A. R71 444 B. R79 955 C. R82 865 D. R90 000

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A: The complete solutions are given below