Find the Future Value of the Annuity

question 269

Multiple Choice

Find the future value of the annuity.
-There are payments of $100 at the end of each year for 15 years at 2% interest compounded annually

• A) $1597.39
• B) $659.74
• C) $6729.34
• D) $1729.34

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Definitions:

Total Assets

The total of all current and non-current assets that a company possesses.

Total Equity

The total net value of a company, calculated by deducting total liabilities from total assets; also known as shareholders' equity.

Financial Statements

Papers that offer a summary of a corporation's financial status, featuring its balance sheet, profit and loss account, and statement of cash flows.

Accounting Procedures

The methods and processes used to record, summarize, and report financial transactions.