Ajax Plc Just Decided to Save £1,500 a Month for the Next

question 34

Multiple Choice

Ajax plc just decided to save £1,500 a month for the next five years as a safety net for recessionary periods.The money will be set aside in a separate savings account which pays 3.25% interest compounded monthly.It deposits the first £1,500 today.If the company had wanted to deposit an equivalent lump sum today, how much would it have had to deposit?

• A)£82,964.59
• B)£83,189.29
• C)£83,428.87
• D)£83,687.23
• E)£84,998.01

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Definitions:

Office Supplies

Items and materials used in offices for conducting everyday business activities, such as pens, paper, staplers, and envelopes.

Delivery Dependability

A measure of the reliability of a supplier or a service in delivering products or services on time and in the correct condition.

Competing Companies

Businesses that are in direct rivalry with one another, offering similar products or services in the same market.

Warranties On Purchases

Guarantees provided by a seller to a buyer ensuring the quality and performance of a product for a certain period.