Shekhar Invests $1,820 in a Mutual Fund at the End

question 42

Multiple Choice

Shekhar invests $1,820 in a mutual fund at the end of each of the next six years. If his opportunity cost rate is 8 percent compounded annually, how much will his investment be worth after the last annuity payment is made? Use the equation method to calculate the worth of the investment. (Round your answer to two decimal places.)

• A) $11,125.76
• B) $11,857.58
• C) $12,580.20
• D) $13,422.50
• E) $14,871.32

---

Definitions:

Faith Ringgold

An African American artist and author known for her narrative quilts and her activism within the civil rights and feminist movements.

Quilts

Pieces of textile art traditionally made by stitching together layers of fabric, often containing complex patterns or designs, serving both functional and expressive purposes in various cultures.

Storytelling

The act of conveying events, truths, or messages through narrative, spoken or written, often incorporating imaginative details or cultural elements to engage and inform an audience.

Anesthesia

A medical treatment that prevents patients from feeling pain during surgery or other procedures by inducing a temporary loss of sensation or consciousness.