Use Tables 12-1 and 12-2 from Your Text to Answer

question 96

Short Answer

Use Tables 12-1 and 12-2 from your text to answer the following problems. (Round dollars to the nearest cent)
-Refer to Narrative in your text 12-1. Colleen O'Brien has won a sweepstakes payable in 32 semiannual payments of $1,000 each. The organizers of the contest can deposit now at 14% interest compounded semiannually. How much less would they have to deposit today if the annuity is paid at the end of each 6-month period rather than at the BEGINNING of each period?

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Definitions:

Autism Spectrum

A range of neurodevelopmental conditions characterized by challenges with social skills, repetitive behaviors, speech and nonverbal communication, each person affected can have symptoms from mild to severe.

Schizophrenia

A severe psychological condition marked by disturbances in thinking, sensing, emotional regulation, and social behavior.

Obsessive-compulsive

Pertaining to a disorder characterized by recurrent, unwanted thoughts (obsessions) and repetitive behaviors (compulsions).

Histrionic Personality

A personality disorder characterized by a pattern of excessive emotionality and attention-seeking behavior.