If the Interest Rate Is 6

question 73

Multiple Choice

If the interest rate is 6.9% per annum,compounded annually,what is the future value of a five-year ordinary annuity with yearly payments of $4000?

• A) $5584.04
• B) $18 709.07
• C) $22 957.10
• D) $30 984.06

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Definitions:

William James

An American philosopher and psychologist, a leading thinker of the late 19th century known for his contributions to pragmatism and psychology.

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Jean-Paul Sartre

A 20th-century French philosopher, playwright, novelist, and political activist known for his contributions to existentialism and phenomenology.