You Desire to Invest $3,000 at the End of Each

question 2

Multiple Choice

You desire to invest $3,000 at the end of each year for the next five years to accumulate the funds needed for a down payment on a home. Which table factor(s) should be used to most efficiently determine the amount accumulated by the end of the five-year period?

• A) Future value of $1.
• B) Future value of a $1 annuity.
• C) Present value of $1.
• D) Present value of a $1 annuity.
• E) Both Future value of $1 and Future value of a $1 annuity.

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Definitions:

Macro

A script or sequence of instructions that automate repetitive tasks, typically used within software applications to increase productivity.

Evaluate

A function or process of assessing something in terms of its value, quality, or significance.

Arguments

In programming, values or parameters that are passed to functions, procedures, or commands to influence their outcomes.

Action

In computing, a term used to describe any operation, function, or task performed by software or triggered by user interaction.