BillyBob Corporation Deposits $80,000 at the Beginning of Every Quarter

question 105

Multiple Choice

BillyBob Corporation deposits $80,000 at the beginning of every quarter in a savings account for the next eight years so that it can purchase a new piece of machinery at the end of eight years. The interest rate is 4%. How much money will BillyBob Corporation have at the end of eight years? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest dollar.)

• A) $2,999,525
• B) $669,482
• C) $766,624
• D) $3,029,521

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Definitions:

Alcohol

A psychoactive substance commonly found in beverages such as beer, wine, and spirits, known for its depressant effects on the central nervous system.

Depressant

A category of psychoactive drugs that reduce arousal and stimulation, affecting the central nervous system to slow down bodily functions.

Nervous System

A complex network of nerves and cells that transmit signals between different parts of the body, coordinating its actions and sensory information.

Activity Decrease

A reduction in the level of physical or mental action or the frequency of activities.