Find the Amount of an Ordinary Annuity for 6 Years

question 14

Multiple Choice

Find the amount of an ordinary annuity for 6 years of semiannually payments of $1,400 that earn interest at 8%/year compounded semi-annually. ​

• A) $2,241.45
• B) $21,036.13
• C) $26,567.98
• D) $9,286.17

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Definitions:

Decentration

The cognitive ability to pull away from focusing on just one feature of an object in order to consider multiple features.

Prosocial Behavior

Behavior such as sharing, helping, caregiving, and showing compassion.

Helping

Voluntary actions intended to provide aid, support, or benefit to another individual or group.

Enduring Trait

A personality characteristic that is stable over time and across situations, distinguishing one individual from another.