Future Value of Multiple Annuities Assume That You Contribute $100

question 141

Multiple Choice

Future Value of Multiple Annuities Assume that you contribute $100 per month to a retirement plan for 20 years.Then you are able to increase the contribution to $200 per month for another 20 years.Given a 6 percent interest rate,what is the value of your retirement plan after 40 years?

• A)$225,353
• B)$19,155
• C)$245,353
• D)$199,359

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Definitions:

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