You Deposit in a Fund 10 Annual Payments of $2,500

question 135

Multiple Choice

You deposit in a fund 10 annual payments of $2,500 each beginning January 1, 2016, with the last deposit being made on January 1, 2025. How much will be in the fund on December 31, 2025, one year after the final payment, if the fund earns interest at 4% compounded annually?

• A) $21,088
• B) $28,957
• C) $30,015
• D) $31,216

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Definitions:

Keratinocytes

The main type of cell found in the epidermis, responsible for the formation of keratin, a protein that gives skin its strength and flexibility.

Fibrous Protein

Proteins that are elongated and insoluble, providing structural support and tensile strength to tissues, such as collagen and keratin.

UV Rays

Short for ultraviolet rays, a type of electromagnetic radiation from the sun that can cause skin damage and cancer.

Melanocytes

Cells located in the skin that produce melanin, the pigment responsible for skin color and protection against UV radiation.