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:

Government Censorship

The practice by which a government examines and restricts information that it finds objectionable or harmful to its objectives or to public morality.

Racial Injustices

Acts or instances of unfair treatment or discrimination against individuals based on their race or ethnicity.

Higher-order Conditioning

A form of learning in which a stimulus is first made meaningful or consequential through its association with another stimulus, and then that stimulus is used as a basis for learning about additional stimuli.

Classical Conditioning

Classical conditioning is a learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus, leading to a learned response.