To Save for the Replacement of a Computer, a Business

question 33

Multiple Choice

To save for the replacement of a computer, a business deposits $300 at the end of each month into an account that earns 5% annual interest compounded monthly. Find the future value of the ordinary annuity in 4 years.

• A)$15922.70
• B)$15936.42
• C)$15832.05
• D)$15904.47
• E)$15931.84

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Definitions:

Preschool Boys

Young male children, typically under the age of 5, who are in the early childhood phase prior to attending kindergarten.

Delicate and Weak

This phrase refers to something or someone that is fragile, lacking in strength or vigor.

Girls

Young female humans, often defined before the onset of adulthood.

Identify

To recognize or establish who or what someone or something is; to ascertain the origin, nature, or definitive characteristics of.