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:

Monitoring

The regular observation and recording of activities or processes to ensure they are proceeding as expected.

Tactical Plan

A plan that helps to implement all or parts of a strategic plan.

Strategic Plan

A plan that identifies long-term directions for the organization.

Implement

To put into effect or action a plan, idea, or policy.