Determine the Monthly Payment Necessary to Accumulate $30,000 in a Fund

question 76

Multiple Choice

Determine the monthly payment necessary to accumulate $30,000 in a fund paying 6% per year, compounded monthly, for 8 years. Assume end-of-period deposits and compounding at the same intervals as deposits. Round the answer to the nearest cent. ​

• A)$267.77 per month
• B) $186.89 per month
• C) $244.24 per month
• D) $206.76 per month
• E) $201.58 per month

Learn communication techniques for effective cross-cultural interaction.

Understand the relationship between cultural beliefs and practices in shaping individual and group behaviors.

Understand how to enhance presentations with various multimedia elements, including pictures, SmartArt, audio clips, and 3-D models.

Master the process of editing audio and video clips within presentations, including cropping and compressing files.

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Definitions:

Environmental Issues

Problems related to the degradation of the Earth's ecosystems, including pollution, climate change, deforestation, loss of biodiversity, and other detrimental impacts on the natural environment.

Kyoto Protocol

An international treaty that commits state parties to reduce greenhouse gas emissions, based on the scientific consensus that global warming is occurring and that human-made CO2 emissions are a significant cause.

Global Greenhouse Gas Emissions

The total emissions of greenhouse gases worldwide, contributing to global warming and climate change.