Given a 7 Percent Interest Rate, Compute the Year 6

question 110

Multiple Choice

Given a 7 percent interest rate, compute the year 6 future value if deposits of $2,500 and $1,500 are made in years 2 and 3, respectively, and a withdrawal of $900 is made in year 4.

• A) $2,721.44
• B) $4,084.15
• C) $4,491.60
• D) $7,059.04

---

Definitions:

Household Help

Assistance in managing domestic chores and activities within a home.

Earns More

The situation where one individual or entity achieves a higher income or revenue compared to another in a similar timeframe or context.

Housework

The routine tasks and chores involved in running a household, such as cleaning, cooking, and laundry.

Household Help

Refers to individuals who are employed to perform various domestic duties and tasks within a household, such as cleaning, cooking, and babysitting.