You Are Going to Pay $100 into an Account at the Beginning

question 147

Multiple Choice

You are going to pay $100 into an account at the beginning of each of the next 40 years.At the beginning of the 41st year you buy a 30 year annuity whose first payment comes at the end of the 41st year (the accounts earn 12%) .How much will you receive at the end of the 41st year (i.e.,the first annuity payment) .Round to nearest $100.

• A) $93,000
• B) $7,800
• C) $11,400
• D) $10,700

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Definitions:

Labia Majora

The larger outer folds of skin that enclose and protect the other external genital organs in the female reproductive system.

Somatic Sex

Refers to the biological aspects of an individual based on the morphology of the reproductive and sexual organs.

Gonadal Sex

Biological sex determination based on the presence of ovaries or testes, and the associated hormone profiles and reproductive structures.

Genetic Sex

The sex of an individual determined by the chromosomes they possess, typically XX for females and XY for males.