Tony Plans to Deposit $1,000 at the End of Each

question 54

Multiple Choice

Tony plans to deposit $1,000 at the end of each of the next three years.If his funds earn 5% compounded annually,how much will he have at the end of three years?

• A) $3,150.00
• B) $3,175.50
• C) $3,152.50
• D) $3,500.00
• E) $4,310.10

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Definitions:

Backward Integration

Backward Integration is a business strategy where a company expands its role to fulfill tasks formerly completed by businesses up the supply chain, often involving the acquisition of or merger with these businesses.

Vertical Integration

A business strategy in which a company controls multiple stages of production or distribution within the same industry, from raw materials to final product delivery.

Tiffany & Co.

A luxury American multinational jewelry and silverware corporation, known for its diamond and sterling silver jewelry.

Corporate Vertical Marketing Systems

A structured form of marketing system in which a single corporate entity controls the entire process of product or service delivery, from manufacturing to retail.