What Is the Future Value of an Annuity with Monthly

question 71

Multiple Choice

What is the future value of an annuity with monthly deposits of $277 for a period of 11.5 years at an interest rate of 7.44% compounded monthly? The deposits are made at the end of the month.

• A) $60 616.68
• B) $60 161.68
• C) $60 186.68
• D) $60 611.68
• E) $60 001.68

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Definitions:

Criticism

The act of expressing disapproval or finding faults in something or someone, often including suggestions for improvement.

Extinguish Horseplay

Efforts to stop playful, often inappropriate and unproductive behavior in a work or serious environment.

Employee Horseplay

Unprofessional behavior at work consisting of playful or prankish activities that can lead to distractions, accidents, or harm.

Extinction

The gradual dissipation of behavior following the termination of reinforcement.