Annuity Due: You Plan to Save $1,400 for the Next

question 56

Multiple Choice

Annuity due: You plan to save $1,400 for the next four years, beginning now, to pay for a vacation. If you can invest it at 6 per cent, how much will you have at the end of four years? Round to the nearest dollar.

• A) $6,124
• B) $5,618
• C) $4,019
• D) $6,492

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Definitions:

Osteoblasts

Cells responsible for bone formation, secreting the matrix for bone and playing a key role in bone growth and healing.

UV Rays

Ultraviolet rays, a type of electromagnetic radiation emanating from the sun and artificial sources like tanning beds, with wavelengths shorter than visible light but longer than X-rays.

Melanin

A natural pigment found in most organisms, responsible for coloration in skin, hair, and eyes, and provides protection against UV radiation.

Suntanned

The darkening of skin color due to the exposure to sunlight or ultraviolet light which increases melanin production in the skin.