The Future Value of a $10,000 Annuity Due, Deposited at 12

question 73

Multiple Choice

The future value of a $10,000 annuity due, deposited at 12 percent compounded annually for each of the next 5 years is ________ .

• A) $71,154
• B) $36,050
• C) $40,376
• D) $63,530

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Definitions:

Conditions Precedent

Specific conditions outlined in a contract that must be met before a party is required to fulfill their contractual obligations.

Conditions Subsequent

Specific conditions outlined in a contract that must occur or be performed after a specified event or action, which can affect parties' rights and obligations.

Conditions Concurrent

In a contract, these are conditions that must occur or be performed at the same time by the parties involved for the contract to become effective.

Express Conditions

Specific stipulations or criteria that are clearly stated and must be met for a contract or agreement to be fulfilled.