Find the Future Value of an Ordinary Annuity of $67

question 86

Multiple Choice

Find the future value of an ordinary annuity of $67 paid quarterly for 4 years, if the interest rate is 6%, compounded quarterly. Round your answer to the nearest cent. ​

• A) $1,350.51
• B) $1,201.47
• C) $1,248.83
• D) $5,668.14
• E) $300.37

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Definitions:

Confucius

An ancient Chinese philosopher and educator whose teachings and philosophy emphasize personal and governmental morality, correctness of social relationships, justice, and sincerity.

Four Virtues

Traditionally, the four central virtues identified in philosophical and moral thought: prudence, justice, fortitude, and temperance.

Collectivistic Societies

Societies that prioritize the group over the individual, emphasizing community, cooperation, and shared values.

Post-Structuralist Theory

A philosophical approach that critiques and seeks to go beyond the structuralist focus on language, emphasizing the unstable nature of meaning and the importance of power relations in society.