Steve Wilson Wants to Deposit $150 Per Month into an Account

question 22

Multiple Choice

Steve Wilson wants to deposit $150 per month into an account earning 4 percent for the next 3 years, so he can purchase a used car at that time. What type of computation would he use to determine the amount he will have for his purchase?

• A) Present value of a single amount
• B) Future value of a single amount
• C) Simple interest
• D) Present value of an annuity
• E) Future value of an annuity

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Definitions:

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The ability of a single entity to control or dominate a market, setting prices and limiting competition.

French law

refers to the legal system established in France, which includes civil law traditions, statutory laws, and regulations governing various aspects of life and business in the country.

Industry level agreements

Collective bargaining agreements negotiated at the industry or sector level, affecting all workers and employers within that industry.