Solve the Problem. Round to the Nearest Cent

question 13

Multiple Choice

Solve the problem. Round to the nearest cent.
-James has set up an ordinary annuity to save for his retirement in 19 years. If his monthly Payments are $200 and the annuity has an annual interest rate of 7.5% compounded monthly, What will be the value of the annuity when he retires?

• A) $104,462.72
• B) $100,462.72
• C) $75,347.04
• D) $86,397.94

Understand the definition and characteristics of collective behaviour.

Identify and differentiate between various types of crowds and their characteristics.

Know significant historical events that have impacted societal norms, specifically the Canadian Charter of Rights and Freedoms.

Distinguish between concepts of fads, fashions, rumours, and urban legends.

---

Definitions:

Fragment

A sentence fragment is an incomplete sentence that lacks a subject, a verb, or does not express a complete thought.

Fiercely Competitive

engaging in activities or endeavors with intense determination to succeed or win, often beyond the norm.

High Level

A term describing something that is of a superior or advanced status, complexity, or degree in a particular context.

Late 1600s

A historical period referring to the final decades of the 17th century, a time marked by significant cultural, political, and technological changes.