Find the Future Value of the Annuity

question 145

Multiple Choice

Find the future value of the annuity.
-A sequence of yearly payments of $5000 is invested at the end of each of 9 years at an interest rate of 2.1%, compounded annually. What is the total amount of the annuity after 9 years?

• A) $48,471.18
• B) $48,971.18
• C) $49,971.18
• D) $47,971.18

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Definitions:

Best Possible Price

Achieving the most favorable cost condition under given circumstances, often in purchasing or selling scenarios.

Federal Reserve Districts

Geographic regions in the United States served by a specific Federal Reserve Bank.

M2

M2 is a measure of money supply that includes all elements of M1 (cash and liquid assets) plus near money, such as savings deposits, money market securities, and other time deposits, which are less liquid but can easily be converted into cash or checking deposits.

M1

M1 is a category of the money supply that includes physical currency and coin, demand deposits, traveler's checks, and other liquid funds.