Calculation of the amount of the equal periodic payments that would be required at the end of each year to accumulate a $20,000 fund at the end of the tenth year is most readily determined by reference to a table that shows which of the following?
A) Future value of $1.
B) Present value of $1.
C) Future value of annuity of $1.
D) Present value of a single sum.

Question

Quizplus · Accepted Answer

To accumulate a fund through equal periodic payments, you would refer to a "Future value of annuity of $1" table. This table helps determine how much you need to save each year (or other period) to reach a specific amount in the future, considering a certain interest rate over a set period of time.

Calculation of the Amount of the Equal Periodic Payments That