If You Start Making $90 Monthly Contributions Today and Continue

question 129

Multiple Choice

If you start making $90 monthly contributions today and continue them for ten years, what is their future value if the compounding rate is 6 percent APR? What is the present value of this annuity?

• A) $14,794.14; $8,106.61
• B) $14,794.14; $8,147.14
• C) $14,822.89; $8,106.61
• D) $14,822.89; $8,147.14

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Definitions:

Healthcare Subsidized

A situation where government or another entity provides financial assistance to reduce the cost of health care for individuals, making it more accessible and affordable.

Benefits Costs

The expenses that an organization incurs to provide benefits to its employees, including health insurance, retirement plans, and paid time off.

Employment Insurance Fund

A government-operated fund that provides financial assistance to eligible unemployed individuals, helping them to support themselves while they seek new employment.

Unemployment Insurance Claims

Unemployment insurance claims are applications filed by individuals seeking financial assistance after losing their jobs, as part of a governmental program designed to provide temporary income support.