Find the Value of an Annuity

question 275

Multiple Choice

Find the Value of an Annuity
-Looking ahead to retirement, you sign up for automatic savings in a fixed-income 401K plan that pays 5.5% per year compounded annually. You plan to invest $2000 at the end of each year for the next 25 years. How much will your account have in it at the end of 25 years?

• A) $102,305
• B) $104,075
• C) $100,762
• D) $103,603

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