The Future Value of $50 Deposited Each Year for 6

question 86

Multiple Choice

The future value of $50 deposited each year for 6 years earning 7 percent would be approximately: Use Exhibit 1-B.(Round time value factors to 3 decimal places and final answer to the nearest dollar amount.)

• A)$50
• B)$300
• C)$358
• D)$371
• E)$428

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Definitions:

Elementary School

An institution for early education of children that typically covers kindergarten through fifth or sixth grade.

Social Work Group

A collective that utilizes social work principles and practices to address individual and community issues.

Schools of Social Welfare

Academic institutions focused on the study and application of methods to improve the well-being of individuals and communities.

1960s and 1970s

A period marked by significant cultural, political, and social change globally, often associated with the civil rights movement, environmentalism, and the counterculture.