Future Value of an Annuity What Is the Future Value

question 156

Multiple Choice

Future Value of an Annuity What is the future value of an $800 annuity payment over 15 years if the interest rates are 6 percent?

• A)$1,917.25
• B)$7,002.99
• C)$12,720.00
• D)$18,620.78

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Definitions:

Rotate

To turn or spin around an axis or center point.

Self-adjuster

A component in drum brakes that automatically maintains the correct distance between the brake shoes and drum.

Threaded Self-adjuster

A component in drum brakes that automatically adjusts the brake shoes’ positioning to maintain optimal distance from the drum.

Shoes

Components in drum brakes that press against the drum's interior surface to create friction and slow the vehicle.