Use the Following Information in Solving the Following Question(s)

question 91

Multiple Choice

Use the following information in solving the following question(s) .
You are going to pay $100 into an account at the beginning of each of the next 40 years.At the beginning of the 41st year,you buy a 30-year annuity whose first payment comes at the end of the 41st year (the account pays 12%) .
-How much money will be in the account at the end of year 40 (round to the nearest $1,000) ?

• A)$77,000
• B)$86,000
• C)$69,000
• D)$93,000

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Definitions:

Theodore Roosevelt

26th President of the United States, noted for his exuberant personality, range of interests and achievements, and his leadership of the Progressive Movement.

American-Spanish War

A conflict between the United States and Spain in 1898, resulting in the U.S. gaining territories in the western Pacific and Latin America.

McKinley

William McKinley was the 25th president of the United States, serving from 1897 until his assassination in 1901, known for leading the nation during the Spanish-American War and advocating for protective tariffs.

Philippines

An archipelagic country in Southeast Asia, consisting of over 7,000 islands, known for its significant history of Spanish and American colonialism followed by a period of martial law.