The Future Value of an Annuity of $1,000 Each Quarter

question 45

Multiple Choice

The future value of an annuity of $1,000 each quarter for 10 years, deposited at 12 percent compounded quarterly is

• A) $17,549
• B) $75,401
• C) $93,049
• D) $11,200

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Definitions:

Creativity

The ability to generate innovative ideas and solutions by thinking outside the conventional boundaries.

Innovation

The process of introducing new ideas, devices, or methods to improve goods, services, or processes.

Creative Process

A series of steps or stages that an individual goes through during the act of creation, which typically include preparation, incubation, illumination, and verification.

Complex Phenomenon

A situation or event that is intricate due to having multiple interconnected factors or elements.