Calculate the Accumulated Value of Monthly Payments of $100

question 78

Multiple Choice

Calculate the accumulated value of monthly payments of $100.00 made at the end of each month for ten years just after the last payment has been made if interest is 12% p.a. compounded monthly.

• A) $23 003.87
• B) $33 003.87
• C) $12 000
• D) $1 046.22
• E) $330 003.87

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Definitions:

Earthworms

Invertebrate animals belonging to the class Oligochaeta, known for their role in aerating the soil and enhancing soil fertility through their digestion process.

Marine Annelids

Worm-like organisms that live in marine environments, part of the phylum Annelida, known for their segmented bodies.

Parapodia

Parapodia are paired, lateral extensions on each segment of some annelids, such as polychaetes, used for locomotion and sometimes respiration.

Bivalve

Type of mollusc with a shell composed of two valves; includes clams, oysters, and scallops.