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:

Facial Expressions

Observable movements of the facial muscles that convey an individual's emotional state to others.

Emotion

A complex psychological state involving physiological arousal, thoughts, and behavioral expressions, commonly associated with mood, temperament, personality, and motivation.

Nonverbal Expression

Communication without words that includes gestures, facial expressions, body language, and other forms of expressing oneself without vocalization.

Facial Expressions

Refers to the movement of the muscles beneath the skin of the face, which convey emotions to others.