An investment will receive $⁢2,000 in 5 years at a 5% annual interest rate compounded annually. Calculate the present value of the investment. Formula: P⁢V=(F⁢V)/((1+(r)/(n))^n⋅t)

With annual compounding, there is 1 compounding period per year, so the present value is $2,000 ÷ (1 + 0.05)^(1 × 5). This equals about $1,567.05. Therefore, the correct choice is $1,567.05.

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