Present Value of 1 Future Value of 1 Present Value of an Annuity of 1 Future Value of an Annuity of 1 An individual is planning to set-up an education fund for her daughter.She plans to invest $7,000 annually at the end of each year.She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%.What will be the total value of the fund at the end of 9 years?
A)$87,416
B)$68,040
C)$50,400
D)$126,000
E)$45,360

Question

Present Value of 1  Future Value of 1  Present Value of an Annuity of 1  Future Value of an Annuity of 1  An individual is planning to set-up an education fund for her daughter.She plans to invest $7,000 annually at the end of each year.She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%.What will be the total value of the fund at the end of 9 years?
A)$87,416 
B)$68,040 
C)$50,400 
D)$126,000 
E)$45,360

Quizplus · Accepted Answer

The Answer of Present Value of 1  Future Value of 1  Present Value of an Annuity of 1  Future Value of an Annuity of 1  An individual is planning to set-up an education fund for her daughter.She plans to invest $7,000 annually at the end of each year.She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%.What will be the total value of the fund at the end of 9 years?
A)$87,416 
B)$68,040 
C)$50,400 
D)$126,000 
E)$45,360