Find the Amount of an Annuity If $200 Per Month

question 21

Multiple Choice

Find the amount of an annuity if $200 per month is paid into it for a period of 17 years, earning interest at the rate of 7% per year compounded continuously. Round you answer to the nearest dollar. ​

• A) $284,751
• B) $130,510
• C) $78,414
• D) $84,009
• E) $144,734

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Definitions:

Same-sex Parent Households

Families where children are raised by parents of the same gender, either biological or adoptive.

Slave Owners

Individuals who owned slaves in the past, typically in contexts where slavery was legally recognized and institutionalized.

18th

Refers to the 18th century, a period from 1701 to 1800, which is often associated with the Enlightenment and significant political and social changes.

19th Centuries

The period from 1801 to 1900, marked by significant political, social, and technological changes globally.