Find the Amount of an Annuity If $300 Per Month

question 135

Multiple Choice

Find the amount of an annuity if $300 per month is paid into it for a period of 17 years, earning interest at the rate of 9% per year compounded continuously.

• A) $144,727
• B) $118,909
• C) $245,790
• D) $179,614
• E) $179,511

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Definitions:

Solid Mass

A physical form of matter that has a defined shape and volume without fluid properties.

Skin Lesion

Any noticeable change in the skin's condition, including bumps, discoloration, or areas of swelling, which can indicate a wide range of health issues.

Tumor

An abnormal mass of tissue that forms when cells grow and divide more than they should or do not die when they should.

Irregular Ragged

Characterized by a rough or uneven edge or surface, often found in a description of wounds or fabrics.