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:

Biographies

Written accounts of individual lives, showcasing personal and professional experiences.

Class Conflict

The strain or conflict arising in society from the contrasting economic interests and aspirations among individuals of diverse social classes.

Twentieth-century

Referring to the period from 1901 to 2000, marked by significant technological, political, and cultural changes worldwide.

Social Changes

Transformations in societal structures, behaviors, or cultural norms over time.