Find the Future Value of an Annuity with Monthly Deposits

question 97

Multiple Choice

Find the future value of an annuity with monthly deposits of $60, made over a period of 10 years, with 8.1% interest compounded monthly.

• A) $11,038.21
• B) $17,234.56
• C) $29,668.96
• D) $58,843.96

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Definitions:

Incorporators

Incorporators are individuals or entities that participate in the creation and filing of a corporation's founding documents with relevant state authorities.

Charter

A document that establishes the principles, functions, and organization of a corporation or city.

Incorporation Papers

are legal documents filed with a governmental body to legally document the creation of a corporation.

Corporation Powers

The legal rights endowed to a corporation, allowing it to act as a single entity and carry out its business.