The Future Value of an Ordinary Annuity of $1,000 Each

question 89

Multiple Choice

The future value of an ordinary annuity of $1,000 each year for 10 years, deposited at 3 percent, is ________.

• A) $11,808.
• B) $11,464.
• C) $ 8,530.
• D) $10,000.

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Definitions:

Theory X

A management theory assuming that employees are inherently lazy and will avoid work if possible, necessitating control and coercion by management.

Conventional

Refers to what is traditional, accepted, or expected by society; often contrasted with innovative or unconventional methods or ideas.

Projection

In psychology, a defense mechanism where individuals ascribe their own unacceptable feelings or thoughts onto others.

Mental Process

The internal, covert activities of our minds, such as thinking, feeling, and remembering.