Present and Future Value Tables of $1 at 9% Are

question 3

Multiple Choice

Present and future value tables of $1 at 9% are presented below.

-Claudine Corporation will deposit $5,000 into a money market sinking fund at the end of each year for the next five years. How much will accumulate by the end of the fifth and final payment if the sinking fund earns 9% interest?

• A) $32,617.
• B) $29,924.
• C) $27,250.
• D) $26,800.

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Definitions:

Iroquois Confederacy

A historic alliance of six Native American tribes in the northeastern United States, known for their political union and influence on American democratic principles.

European Diseases

Infectious diseases introduced by European explorers and colonists to indigenous populations in the Americas, leading to significant demographic declines due to lack of immunity.

Tribal Lands

Designated areas of land that are recognized as being under the control and management of Native American tribes.

Puritan Migrations

The movement of English Puritans in the 16th and 17th centuries, largely to North America, to escape religious persecution and establish communities based on their beliefs.