Find the Amount of an Ordinary Annuity for 6 Years

question 182

Multiple Choice

Find the amount of an ordinary annuity for 6 years of quarterly payments of $1,800 that earn interest at 4% per year compounded quarterly. ​

• A) $11,073.63
• B) $70,348.69
• C) $48,552.24
• D) $2,285.52

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Definitions:

High School Basketball

A competitive sport played by teams of high school students, governed by rules and often part of interscholastic athletics.

Paint Thinner

A solvent used to thin oil-based paints or clean up after their use, often containing volatile organic compounds.

Aggressive Behavior

Actions or attitudes that are forceful, hostile, or attacking, often harmful to oneself or others.

High School Football

A team sport played by high school students in the United States, combining physical conditioning, strategy, and teamwork.