Given an 8 Percent Interest Rate, Compute the Year 7

question 34

Multiple Choice

Given an 8 percent interest rate, compute the year 7 future value if deposits of $1,500 and $2,500 are made in years 2 and 3, respectively, and a withdrawal of $2,000 is made in year 5.

• A) $1,909.42
• B) $3,272.41
• C) $3,433.60
• D) $5,656.34

---

Definitions:

Charitable Goals

Objectives set by individuals or organizations aimed at providing aid or support for philanthropic or humanitarian purposes.

Foundation

An underlying basis or principle for something, or an organization established to support charitable, educational, or other purposes.

Charitable Goals

Objectives aimed at providing aid or support to those in need, often pursued by non-profit organizations or philanthropic initiatives.

For-Profit Organization

A business or other organization whose primary goal is to generate income for its owners or shareholders.