Present and Future Value Tables of $1 at 3% Are

question 59

Multiple Choice

Present and future value tables of $1 at 3% are presented below:

-At the end of each quarter, Patti deposits $500 into an account that pays 12% interest compounded quarterly. How much will Patti have in the account in three years?

• A) $7,096.
• B) $7,213.
• C) $7,129.
• D) $8,880.

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Definitions:

Temperature Switch

A device that activates or deactivates based on a specific temperature threshold being reached.

Proximity Sensor

A device that detects the presence or absence of a nearby object without physical contact, often using electromagnetic fields, light, or sound.

Photoelectric Sensor

A device that uses light to detect the presence, absence, or distance of an object.

Transmitter

A device that sends signals, often converted from physical measurements, to other instruments or systems for monitoring or control purposes.