What Is the Future Value of an $800 Annuity Payment

question 72

Multiple Choice

What is the future value of an $800 annuity payment over 15 years if the interest rates are 6 percent?

• A) $1,917.25
• B) $7,002.99
• C) $12,720.00
• D) $18,620.78

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Definitions:

Interaxle Differential

A mechanism that allows for differential speeds between the front and rear axles of a multi-axle vehicle, improving maneuverability and traction.

Controlled Traction

Differential gearing that uses a friction plate assembly to transfer drive torque from a slipping wheel (sensed by axle shaft spinout) to its opposite.

Tag Axle

A truck dead axle located behind a drive axle; may or may not be a lift axle.

Highway Truck

A type of truck designed for long-distance transport on highways, often featuring larger engines and fuel tanks for extended range.