A Trust Will Provide $12,000 to a County Library at the Beginning

question 86

Multiple Choice

A trust will provide $12,000 to a county library at the beginning of each 3-month period for the next 2.5 years. If the money is worth an annual rate of 6.8%, compounded quarterly, find the amount in the trust when it begins. Round your answer to the nearest cent.

• A)$246,873.08
• B)$111,364.28
• C)$284,945.37
• D)$352,106.39
• E)$85,257.67

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Definitions:

Explanatory Variables

Variables in a statistical model that are used to predict or explain changes in the dependent variable.

Deaths

The occurrence of the permanent cessation of all vital functions in a living organism, marking the end of life.

Degrees of Freedom

Refers to the number of independent values or quantities that can vary in a statistical analysis without breaking any constraints.

ANOVA F Test

A statistical test used in analysis of variance (ANOVA) to determine if there are significant differences between the means of three or more groups.