Tomas Wants to Save $1,200 a Year in a Manner

question 222

Multiple Choice

Tomas wants to save $1,200 a year in a manner that maximizes his savings. To do this, he should:

• A) Deposit $1,200 into his savings account on the last day of each year.
• B) Treat his $100 monthly savings deposits as an annuity due.
• C) Treat his $100 monthly savings deposits as an ordinary annuity.
• D) Deposit $300 into his account at the end of each quarter.
• E) Deposit $600 into his account at the end of every six month period.

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Definitions:

Ethical Guidelines

Standards designed to guide behavior and practice in various fields, ensuring integrity and the welfare of participants.

Population

A group of individuals of the same species living in a specific area who interbreed, or a statistical total in demographic or research terms.

Meta-Analysis

A statistical analysis that combines the results of multiple scientific studies on the same topic to derive conclusions based on the whole body of research.

Small Trends

Minor or emerging patterns in data, behavior, or societal changes that may indicate the beginning of a new development or phenomenon.