What Is the Future Value After 14 Years If You $\$ 17,254.21$

question 233

Multiple Choice

What is the future value after 14 years if you deposited $2,000 for your child's education and the interest was guaranteed at 16% compounded annually?

• A) \(\$ 17,254.21\)
• B) \(\$ 2,300.45\)
• C) \(\$ 2,017.57\)
• D) \(\$ 4,017.57\)
• E) \(\$ 15,975.04\)

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Definitions:

S-cam Brake Systems

A type of drum brake system commonly used in heavy vehicles, where the rotation of an S-shaped camshaft forces brake shoes outward to create friction.

Air Disc Brakes

A type of brake system used in vehicles, particularly heavy-duty trucks and buses, that uses air pressure to push pads onto a disc to create friction and stop the vehicle.

Mechanical Braking Efficiencies

The effectiveness and performance efficiency of a mechanical braking system in converting kinetic energy into heat energy to stop a vehicle.

Drum Brakes

A brake system in which a rotating drum fixed to the wheel assembly turns around stationary friction-faced shoes. Braking action is achieved when the shoes are forced into the drum inside diameter. The common foundation brake system used on trucks using S-cam actuation of the shoes.