If You Start Making $115 Monthly Contributions Today and Continue

question 96

Multiple Choice

If you start making $115 monthly contributions today and continue them for six years, what is their present value if the compounding rate is 12 percent APR? What is the present value of this annuity?

• A) $5,512.90
• B) $5,633.10
• C) $5,882.30
• D) $5,941.12

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Definitions:

Generic Name

The non-branded name of a medication, usually derived from its chemical name and not protected by trademark.

Diuretic

A type of medication or substance that promotes the excretion of urine, used to treat conditions like hypertension.

Urinary Output

The volume of urine excreted by the kidneys over a specific period, an important indicator of kidney and overall fluid balance.

Blood Pressure

The pressure of circulating blood against the walls of blood vessels, an important indicator of cardiovascular health.