What Is the Future Value of a 5-Year Ordinary Annuity

question 12

Multiple Choice

What is the future value of a 5-year ordinary annuity with annual payments of $250,evaluated at a 15 percent interest rate?

• A) $670.44
• B) $838.04
• C) $1,250
• D) $1,685.60

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Definitions:

Rehabilitation

A program or process designed to help individuals recover from injury, disease, or addiction, aimed at restoring physical, sensory, and mental capabilities.

Diagnostic Testing

Medical tests and procedures used to determine the presence of a disease or the cause of certain symptoms in a patient.

Surgery

Medical procedure involving the incision with instruments; performed to repair damage or arrest disease in a living body.

Cancer Prevention

Strategies or actions taken to reduce the risk of developing cancer, including lifestyle changes, dietary alterations, and medical interventions.