Find the Amount of Monthly Payment Necessary for the Deposit

question 61

Multiple Choice

Find the amount of monthly payment necessary for the deposit to a sinking fund. ​

• A) $2,245.94
• B) $651.97
• C) $591.36
• D) $1,219.65
• E) $2,598.06

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Definitions:

Elastic

A characteristic of goods or services with demand that is significantly responsive to changes in price.

Value Of Land

The worth of a piece of land determined by its characteristics, location, and potential uses.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, leading to a stable market condition.

Elastic

A characteristic of demand or supply indicating a high responsiveness to changes in price.