If $3,000 Is Compounded Annually at 6

question 243

Multiple Choice

If $3,000 is compounded annually at 6.5% for 13 years, what is the future value?

• A) $6,802.46
• B) $6,806.47
• C) $6,798.45
• D) $5,535.00
• E) $6,812.46

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Definitions:

North America

A continent in the Northern Hemisphere largely bordered by the Atlantic Ocean to the east and the Pacific Ocean to the west, consisting of countries such as the USA, Canada, and Mexico.

Migration Paths

Routes or movement patterns that populations or individuals follow to relocate from one area to another.

African Society

The diverse cultures, societies, economies, and histories of the African continent.

Slavery

A regime where people are held by others, stripped of their autonomy, and forced to undertake work or services.