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:

Explanandum

In philosophy of science, the phenomenon or event that needs to be explained or accounted for in an explanation.

Adequate

Adequate describes a condition or quality of being sufficient, acceptable, or satisfactory for a specific requirement or purpose.

Explanandum

The phenomenon or event that is to be explained in a scientific inquiry.

Uninformative

Providing no useful or relevant information.