Lori Miller Deposits $2, 000 Each Year into a Savings

Multiple Choice

Lori Miller deposits $2, 000 each year into a savings account beginning January 1, 2010.The last payment will be made on January 1, 2019, after which the total amount will be withdrawn to purchase a yacht.To find the amount available on January 1, 2014, after the last payment, Lori must determine

A) the present value of an ordinary annuity
B) the present value of a single sum
C) the future value of an ordinary annuity
D) the future value of a single sum