Determine the Future Value in Year 8 of $3,000 Annual

question 52

Multiple Choice

Determine the future value in year 8 of $3,000 annual payments received in years 2, 4 and 6 given an interest rate of 7% compounded annually.

• A) $11,075.16
• B) $11,869.28
• C) $12,428.39
• D) $12,990.80
• E) $13,167.25

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Definitions:

Aristotle

An ancient Greek philosopher and polymath, whose extensive works laid the foundation for much of Western philosophy, science, and ethics.

Censorship

The suppression or prohibition of speech, public communication, or other information which may be considered objectionable, harmful, sensitive, or inconvenient as determined by governments, media outlets, or other controlling bodies.

Plato

An ancient Greek philosopher who was a student of Socrates and the teacher of Aristotle, known for his works that laid the foundation for much of Western philosophy.

Arts

Various forms of creative expression including, but not limited to, painting, music, literature, and dance.