Estimate the Answer to the Problem

question 49

Multiple Choice

Estimate the answer to the problem.
-A particular freight elevator can safely carry 862 pounds. How many 160-pound bundles of wood Can be safely carried by this elevator?

• A) 5 bundles
• B) 4 bundles
• C) 6 bundles
• D) 7 bundles

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Definitions:

Annual Deposit

A fixed amount of money deposited into an account once every year.

RRSP

A Registered Retirement Savings Plan in Canada that allows for tax-deferred savings for retirement.

Compounded Quarterly

The method of calculating interest by adding it to the principal every three months, affecting the total amount of interest earned or paid.

Annuity

A monetary instrument providing a regular series of payments to a person, often utilized in preparing for retirement.