What Is the Future Value of a Series of $500

question 7

Multiple Choice

What is the future value of a series of $500 annual payments received at the end of each of the next 5 years' worth if they are invested at an annual rate of return of 6%?

• A)$1,223.44
• B)$2,176.65
• C)$2,818.50
• D)$3,309.76

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Definitions:

Terseness

The quality of being concise and to the point, often characterized by a minimalist use of words to convey information effectively.

Conciseness

The quality of being brief and to the point, eliminating unnecessary words or details.

Comprehensiveness

refers to the quality of including all or nearly all elements or aspects of something.

Correctness

Correctness in communication refers to the accuracy of content, grammar, punctuation, and syntax in spoken or written modes.