What Is the Future Value of $2,400 a Year for Three

question 51

Multiple Choice

What is the future value of $2,400 a year for three years at an 8% rate of interest?

• A) $6,185.03
• B) $6,847.26
• C) $7,134.16
• D) $7,791.36
• E) $8,414.67

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Definitions:

Occurrences

The instances or times that something happens or arises; the frequency of events.

Expected Value

The anticipated value or mean outcome of a variable, calculated as the sum of all possible values each multiplied by its probability of occurrence.

Sample Information

Data collected from a subset of a larger group or population to infer or analyze characteristics of the whole group.

Cups of Coffee

A unit of measure or a reference to the quantity of coffee consumed or required for a given purpose.