Calculate the Accumulated Value After Ten Years of Payments of $1000.00

question 39

Multiple Choice

Calculate the accumulated value after ten years of payments of $1000.00 made at the end of each year if interest is 6% compounded monthly.

• A) $10 228.03
• B) $13 285.11
• C) $10 228.56
• D) $10 600.00
• E) $13 228.03

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Definitions:

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A type of gearbox used in vehicles, allowing the driver to manually select and change gear ratios.

Automatic Transmission

A type of vehicle transmission that automatically changes gear ratios as the vehicle moves, freeing the driver from having to shift gears manually.

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A method of learning that occurs through rewards and punishments for behavior, through which an individual makes associations between certain behaviors and their consequences.

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The process of removing dishes, utensils, and leftovers from a table after a meal.