The following table list two investment plans, a and b. given this information, determine which investment is an ordinary
annuity and the future value of the ordinary annuity after one year, given that both investments, a and b, compound interest
monthly at the rate of 3.5%. round to the nearest cent.
jan feb. mar. apr. may jun jul aug sept. oct. nov. dec.
350 350 350 350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350 350 350 350
a. investment a is an ordinary annuity with $3,918.03 in the account after 1 year.
b. investment b is an ordinary annuity with $3,918.03 in the account after 1 year.
c. investment a is an ordinary annuity with $3,906.64 in the account after 1 year.
d. investment b is an ordinary annuity with $3,906.64 in the account after 1 year
select the best answer from the choices provided