You Are Considering Investing in a Retirement Fund That Requires

question 56

Multiple Choice

You are considering investing in a retirement fund that requires you to deposit $5,000 per year, and you want to know how much the fund will be worth when you retire. What financial technique should you use to calculate this value?

• A)Future value of a single payment
• B)Future value of an annuity
• C)Present value of an annuity
• D)Present value of a perpetuity

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Definitions:

Time Standards

The established amount of time required to complete a specific task, used for planning and performance evaluation.

Job Characteristics

The attributes or aspects of a job, such as its tasks, responsibilities, and working conditions, that can affect employee motivation and job satisfaction.

Motivate Employees

Refers to the process and strategies used by organizations to inspire and encourage workers to exceed minimum standards and achieve their fullest potential.

Canadian Charter

Refers to the Canadian Charter of Rights and Freedoms, a portion of the Constitution Act, 1982, which protects the civil rights of people in Canada from policies and actions of all levels of government.