Jacob Sawyer Will Deposit $3,000 into a Special Account Each

question 33

Multiple Choice

Jacob Sawyer will deposit $3,000 into a special account each year beginning December 31, 2016, with the last deposit being made on December 31, 2019. Jacob wants to know how much will be in his account on December 31, 2019, immediately after the final deposit, if the account earns 10% compounded annually. To solve the problem, Jacob must find the future value of

• A) a single sum.
• B) a deferred annuity.
• C) an ordinary annuity.
• D) an annuity due.

---

Definitions:

Selfish Tone

A manner of communication that shows more concern for one's own interests, needs, or desires rather than those of others.

Project Deadline

A project deadline is the specific date by which a project must be completed or reach a significant milestone.

External Audience

Individuals or groups outside of an organization who are a target for communication or outreach, such as customers, clients, or the general public.

Sustainable Design

A design philosophy focusing on reducing environmental impact and conserving resources for future generations.