Use the Sinking Fund Formula to Determine the Payment Needed

question 82

Multiple Choice

Use the sinking fund formula to determine the payment needed to reach the accumulated amount. Round the answer to
the nearest cent.
-Annual payments with 3.1% interest compounded annually for 9 years.to accumulate $4400

• A) $103.63
• B) $382.05
• C) $431.35
• D) $493.05

---

Definitions:

Nursing Diagnoses

Clinical judgments about individual, family, or community experiences or responses to actual or potential health problems/life processes.

Chronic Low

A term that likely is meant to reflect a persistent state of low mood or energy, but as phrased, it is not a standard term.

Defensive Coping

A psychological strategy used to protect oneself from anxiety, stress, or negative feelings by denying, distorting, or avoiding reality.

Acute Mania

A mental state characterized by an abnormally elevated mood, hyperactivity, and a reduced need for sleep, typically seen in bipolar disorder.