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    Exam 5: Time Value of Money
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    The Future Value of an Ordinary Annuity of $1,000 Each
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The Future Value of an Ordinary Annuity of $1,000 Each

Question 89

Question 89

Multiple Choice

The future value of an ordinary annuity of $1,000 each year for 10 years, deposited at 3 percent, is ________.


A) $11,808.
B) $11,464.
C) $ 8,530.
D) $10,000.

Correct Answer:

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