Find the Present Value of an Ordinary Annuity of $150

question 30

Multiple Choice

Find the present value of an ordinary annuity of $150 payments each made monthly over 10 years and earning interest at 4% per year compounded monthly. ​

• A) $3,716.11
• B) $14,815.53
• C) $312.50
• D) $1,216.63

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Definitions:

Psychological Testing

The use of standardized tests to evaluate an individual's mental and emotional capabilities and characteristics, often used in the context of employment to assess suitability for a job role.

Written Test

A method of assessment involving questions answered in written form to evaluate knowledge, understanding, or skill level.

Resumé

A brief voluntary listing of an applicant’s work experience, education, personal data, and other information relevant to the job.

Bona Fide Occupational Requirement

A legitimate, non-discriminatory requirement for a job, necessary for carrying out the essential functions of the position.