Find the Future Value of the Ordinary Annuity

question 24

Multiple Choice

Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated.
-PMT = $7,500, i = 3% interest compounded semiannually for 3 years

• A) $46,721.63
• B) $38,642.00
• C) $546,721.63
• D) $265,225.00

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Definitions:

Uranium Atoms

The basic units of the chemical element Uranium, known for their radioactive properties and used as fuel in nuclear power plants.

Uranium Metal

A heavy, dense metal that is radioactive and used primarily as fuel in nuclear reactors.

Protons

Positively charged particles found in the nucleus of an atom, contributing to the atom's mass and atomic number.

Isotope

Variants of a chemical element that have the same number of protons but different numbers of neutrons in their atoms, affecting their atomic mass but not their chemical properties.