Present Value of 1 Future Value of 1

question 13

Multiple Choice

Present Value of 1 Future Value of 1 Present Value of an Annuity of 1 Future Value of an Annuity of 1 An individual is planning to set-up an education fund for her daughter.She plans to invest $7,000 annually at the end of each year.She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%.What will be the total value of the fund at the end of 9 years?

• A)$87,416
• B)$68,040
• C)$50,400
• D)$126,000
• E)$45,360

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