Determine the Future Value in Year 8 of $3,000 Annual

question 52

Multiple Choice

Determine the future value in year 8 of $3,000 annual payments received in years 2, 4 and 6 given an interest rate of 7% compounded annually.

• A) $11,075.16
• B) $11,869.28
• C) $12,428.39
• D) $12,990.80
• E) $13,167.25

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Definitions:

Arbitration

A method of dispute resolution where a neutral third party makes a binding decision to resolve a conflict outside of court.

Mediation

A form of alternative dispute resolution where a neutral third party helps disputing parties find a mutually acceptable solution.

Dispute Resolution

A process through which disagreements or conflicts are resolved, often involving negotiation, mediation, arbitration, or litigation.

Parties

Individuals or entities that enter into a legal agreement or are engaged in a lawsuit.