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:

Personal Selling Activities

Direct, face-to-face activities undertaken by sales personnel to persuade consumers to make a purchase, typically involving presentations or demonstrations.

Advertising

A form of marketing communication used to promote or sell a product, service, or idea through various mediums to reach and influence consumers.

Sales Promotion

A marketing strategy involving short-term incentives to encourage the purchase or sale of a product or service.

Quicker Purchases

The process or strategy designed to accelerate the buying process, often through technology or streamlined operations.