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