Find the Future Value of the Annuity

question 92

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 30 years. If the interest rate is 3% per year compounded annually, find the value of the IRA,
Rounded to the nearest dollar, after 30 years.

• A) $3568
• B) $396,577
• C) $118,939
• D) $113,047

---

Definitions:

Unnecessary Steps

Processes or actions within a workflow that do not add value to the product or service and could be eliminated to improve efficiency.

International Federation

A global organization or association that represents and governs a specific set of standards or interests across nations.

Code of Ethics

A set of principles and guidelines designed to help professionals conduct business honestly and with integrity.

Service Firms

Companies that provide intangible products, such as consulting, banking, and legal services, to their customers.