If the Current Rate of Interest Is 8% APR,then the Future

question 20

Multiple Choice

If the current rate of interest is 8% APR,then the future value of an investment that pays $500 every two years and lasts 20 years is closest to:

• A) $10,979
• B) $10,661
• C) $22,881
• D) $20,000

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Definitions:

Binary Numbers

A number system that uses only two digits, 0 and 1, to represent values, crucial in computer science and digital electronics.

I/O Tags

Identifiers used in programming and configuring automated systems to represent inputs and outputs, facilitating data exchange and control.

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Refer to identifiers used within a control system to delineate the scope of variables or tags, ensuring proper management and access in programming environments.

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