Use the Following Information in Solving the Following Question(s)

question 91

Multiple Choice

Use the following information in solving the following question(s) .
You are going to pay $100 into an account at the beginning of each of the next 40 years.At the beginning of the 41st year,you buy a 30-year annuity whose first payment comes at the end of the 41st year (the account pays 12%) .
-How much money will be in the account at the end of year 40 (round to the nearest $1,000) ?

• A)$77,000
• B)$86,000
• C)$69,000
• D)$93,000

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Definitions:

Counterarguments

Arguments presented to oppose or refute another argument, critical in enhancing the depth of debate or reasoning.

Argumentative Essay

A genre of writing that requires the author to investigate a topic; collect, generate, and evaluate evidence; and establish a position on the topic in a concise manner.

Compatibilism

The philosophical belief that free will and determinism are compatible ideas, and it is possible to believe in both without being logically inconsistent.

Indeterminism

The theory that not every event is determined by preceding events and natural laws, suggesting that free will and chance play a role.