A Woman Contributed $\$ 660$ Per Quarter for the First 15 Years of an Annuity

question 91

Multiple Choice

A woman contributed $\$ 660$ per quarter for the first 15 years of an annuity, but changed to quarterly payments of $\$ 1,450$ for the last 15 years. Assuming $7 \frac { 3 } { 4 } \%$ annual interest compounded quarterly, what is her accumulated value?

• A) \(\quad \$ 394,817.98\)
• B) \(\quad \$ 235,679.23\)
• C) \(\quad \$ 394,877.03\)
• D) \(\quad \$ 235,509.70\)

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Definitions:

Pain Injection

A medical procedure involving the administration of medication through a needle or syringe to relieve pain.

Vial

A small container, typically cylindrical and made of glass, used for holding liquid medicines.

Syringe

A medical device used to inject fluids into, or withdraw them from, the body.

Oral Medication

Medicines taken by mouth to be absorbed through the digestive system.