Find the Future Value of the Annuity

question 542

Multiple Choice

Find the future value of the annuity.
-To save for retirement, you decide to deposit $2500 into an IRA at the end of each year for the next 35 years. If the interest rate is 1% per year compounded annually, find the value of the IRA, rounded to the nearest dollar,
After 35 years.

• A) $104,151
• B) $228,023
• C) $1042
• D) $100,644

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Definitions:

Stomach Muscles

The muscles associated with the stomach, primarily responsible for the mechanical digestion of food through churning movements, and part of the broader group of muscles in the abdominal region.

Parasympathetic Nervous System

The part of the autonomic nervous system responsible for rest and digestion, reducing the body's fight or flight response.

Pupil Dilation

The expansion of the pupil of the eye, often in response to low light conditions or as an expression of emotion.

Withdrawal Reflex

A spinal reflex that causes immediate withdrawal from a painful or harmful stimulus.