A Sequence of Yearly Payments of $5000 Is Invested at an Interest

question 202

Multiple Choice

A sequence of yearly payments of $5000 is invested at an interest rate of 1.5%, compounded annually. What is the total amount of the annuity after 10 years?

• A) $54,513.61
• B) $53,513.61
• C) $52,513.61
• D) $53,013.61

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Definitions:

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, leading to damages or injury.

Statistical Tabulating

A process used in data analysis that involves organizing and summarizing data into useful tables which help in understanding the underlying patterns.

Surveyors

Professionals who assess and measure land, property, and construction projects to determine boundaries, dimensions, and the topographical makeup of an area.

Negligent Misstatement

A false statement made carelessly, causing someone to suffer loss or damage because they relied on it.