Billy Pierce Invests $8,000 at the End of Each Year

question 68

Multiple Choice

Billy Pierce invests $8,000 at the end of each year for 5 years at 6%. What is the future value of the investment?

• A)$45,096
• B)$51,008
• C)$49,599
• D)$47,523

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Definitions:

Zhao

Refers to a historical state during the Warring States period of China or to the family name common in China, indicating a wide range of cultural and historical significance.

Tatami

The traditional woven straw mat used for floor covering in Japanese architecture.

Flooring Material

Materials used for the surface of floors, such as wood, tiles, carpet, or stone.

Inner Courtyard

A secluded open space surrounded by walls or buildings, typically found within the premises of a larger architectural structure like palaces or temples.