The Future Value of an Ordinary Annuity Consisting of 10

question 9

Multiple Choice

The future value of an ordinary annuity consisting of 10 annual payments is $1593.74.The interest rate is 10% p.a.compounded annually;therefore the amount of each payment must be how much?

• A)$120.00
• B)$90.00
• C)$110.00
• D)$100.00

---

Definitions:

Maxillary Bones

Paired bones that form the upper jaw and parts of the orbits of the eyes, contributing to the structure of the face and the alignment of teeth.

Palatine Bones

A pair of bones located in the back part of the nasal cavity that form part of the hard palate, the nasal cavity, and the eye sockets.

Nasal Cavity

The section of the respiratory tract located behind the nose, involved in breathing and smelling.

Tracheostomy

A surgical procedure to create an opening in the neck leading directly to the trachea (windpipe) to enable breathing.