Use the Following 8% Interest Factors for Questions -If $5,000 Is Deposited Annually Starting on January 1, 2007

question 63

Multiple Choice

Use the following 8% interest factors for questions . $\begin{array}{lll}&\text { Present Value of}&\text {Future Value of }\\&\text {Ordinary Annuity }&\text {Ordinary Annuity }\\\hline 7 \text { periods } & 5.2064 & 8.92280 \\8 \text { periods } & 5.7466 & 10.63663 \\9 \text { periods } & 6.2469 & 12.48756\end{array}$
-If $5,000 is deposited annually starting on January 1, 2007 and it earns 8%, what will the balance be on December 31, 2014?

• A)$44,614
• B)$48,183
• C)$53,183
• D)$57,438

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Definitions:

Marginal Product

The increase in output that results from adding one more unit of a specific input, holding all other inputs constant.

Total Product

The total output or production achieved by a firm from a given amount of inputs.

Marginal Product

The additional output produced when one additional unit of an input is employed, with all other factors remaining constant.

Total Product

The total output of goods and services produced by a firm during a specific period.