You Expect to Receive R1,000 at the End of Each

question 40

Multiple Choice

You expect to receive R1,000 at the end of each of the next 3 years.You will deposit these payments into an account which pays 10 percent compounded semi-annually.What is the future value of these payments, that is, the value at the end of the third year?

• A) R3,000
• B) R3,310
• C) R3,318
• D) R3,401
• E) R3,438

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Definitions:

Health Care Benefits

Refers to the health insurance or plans provided by an employer to cover the medical expenses of employees and their families.

Severance Pay

Financial compensation awarded to an employee upon termination of employment, often based on length of service or terms of an employment contract, as a form of support.

Terminated

The process of ending an employee's contract with an organization, which can be voluntary or involuntary.

Pension Plans

Financial programs that provide income to individuals during retirement, funded by employers, employees, or both.