Solve. -A Sequence of Yearly Payments of $3000 Is Invested at at the End

question 52

Multiple Choice

Solve.
-A sequence of yearly payments of $3000 is invested at the end of each of 9 years at an interest rate of 4.6%%, compounded annually. What is the total amount of the annuity after 9 years?

• A)$32,539.77
• B)$31,539.77
• C)$33,539.77
• D)$32,039.77

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Definitions:

Consolidation Entry

An accounting record that combines the financial statements of two or more merged or acquired companies.

Investment in Thompson Co.

A specific line item in financial statements or records indicating the amount of money allocated towards the purchase of stakes or securities in Thompson Co. by an investor or another company.

Accrual of Earnings

The accrual of earnings refers to the recognition of revenues and expenses when they are earned or incurred, regardless of when cash transactions occur.

Dividends

Dividends are payments made by a corporation to its shareholders, usually as a distribution of profits, reflecting the shareholders' ownership in the company.