Find the Amount of an Ordinary Annuity of 5 Yearly

question 13

Multiple Choice

Find the amount of an ordinary annuity of 5 yearly payments of $600 that earn interest at 5% per year, compounded annually. ​

• A) $765.77
• B) $3,315.38
• C) $6,748.10
• D) $750.00

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Definitions:

Foot-In-The-Door Phenomenon

A compliance tactic that involves getting a person to agree to a large request by first setting them up by having that person agree to a modest request.

Attitude

A mental inclination demonstrated through assessing a specific entity with a certain level of preference or aversion.

Fundamental Attribution Error

The habit of focusing too much on someone's personal attributes and overlooking the circumstances when assessing their behavior.

Cognitive Dissonance

The psychological dissonance faced when someone maintains a variety of opposing beliefs, ideas, or values simultaneously.