What Is the Future Value of an Annuity with Monthly

question 71

Multiple Choice

What is the future value of an annuity with monthly deposits of $277 for a period of 11.5 years at an interest rate of 7.44% compounded monthly? The deposits are made at the end of the month.

• A) $60 616.68
• B) $60 161.68
• C) $60 186.68
• D) $60 611.68
• E) $60 001.68

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Definitions:

Phenotype

The set of observable characteristics of an individual resulting from the interaction of its genotype with the environment.

Carrier

A person whose genotype includes a gene that is not expressed in the phenotype. The carried gene occurs in half of the carrier’s gametes, and thus is passed on to half of the carrier’s children. If such a gene is inherited from both parents, the characteristic appears in the phenotype.

Multifactorial

Involving or resulting from many different factors or causes, often used in the context of genetics, diseases, or complex traits.

Polygenic

Referring to a trait that is influenced by multiple genes, often resulting in a continuous range of outcomes.