The future value of an annuity of $1,000$ made annually for $5\displaystyle years at the interest of $14\% compounded annually is:
Select Your Answer (Keyboard: A, B, C, D)
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Mathematics of FinanceMCQMTP June 24 Series IIQuestion 6612 of 108
All Questions Correct Answer
✅ Option A — $5,610$
All Options:
- A$5,610$ ✓
- B$6,610$
- C$6,160$
- D$5,160$
Detailed Solution & Explanation
MTP June 24 Series II
About This Chapter: Mathematics of Finance
Paper
Paper 3: Quantitative Aptitude
Weightage
12-16 Marks
Key Topics
Simple & Compound Interest, Annuity, Perpetuity
The most important mathematical chapter in the entire syllabus. It covers Simple Interest (SI), Compound Interest (CI), Nominal vs Effective rates, Present and Future Value, Annuities (Ordinary and Due), Sinking Funds, and Perpetuities. The concepts learned here are applied heavily in CA Intermediate and Final.
View Official ICAI SyllabusExam Strategy Tip
Guaranteed 12-16 marks. Master your calculator! Learn the 'GT' and compound interest M+/M- tricks to solve annuity questions in 10 seconds without writing long formulas.
Key Concepts to Understand
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More Questions from Mathematics of Finance
Which of the following is not a characteristic of a "Price Taker"?
Which of the following is not an essential condition of pure competition?
Under which of the following forms of market structure does a firm have no control over the price of its product?
Kinked demand curve hypothesis is designed to explain in context of oligopoly
Price discrimination will be profitable only if the elasticity of demand in different markets is:
In the long run, a firm in a perfectly competitive market earns:
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