The Future Value of an Ordinary Annuity of $5,000 Invested

question 71

Multiple Choice

The future value of an ordinary annuity of $5,000 invested at 8% in 5 years would result in a value of:

• A) $25,000
• B) $7,345
• C) $29,335
• D) none of the above

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Definitions:

Operations Management

The domain of management tasked with the development and management of production processes and revamping operational methods in the manufacturing of goods or services.

Shewhart

Walter A. Shewhart, an American engineer and statistician recognized as the father of statistical quality control.

Scientific Management Era

describes a period in the early 20th century focusing on improving economic efficiency, especially labor productivity, through systematic scientific studies of work methods.

Operations Management

The administration of business practices to create the highest level of efficiency within an organization.