Solve the Problem. Round to the Nearest Cent

question 44

Multiple Choice

Solve the problem. Round to the nearest cent.
-Sandra deposits $3000 in an ordinary annuity at the end of each semiannual period at 3% interest Compounded semiannually. Find the amount she will have on deposit after 12 years.

• A) $85,900.56
• B) $78,675.43
• C) $82,900.56
• D) $43,853.37

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Definitions:

RUPA

The Revised Uniform Partnership Act, which provides a legal framework for the operation of partnerships in the United States.

Intent

The state of mind with which an act is done, characterized by a decision to bring about a specific result, often a crucial aspect in both criminal and contract law.

Limited Liability

A legal status where a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership.

Income Taxes

Taxes imposed by the government on the income earned by individuals and businesses over a fiscal period.