If $4,000 Is to Be Paid Now

question 245

Multiple Choice

If $4,000 is to be paid now. What amount would be equivalent 97 days earlier given an interest rate of 4.25% per year?

• A) $3,955.33
• B) $3,844.22
• C) $3,733.11
• D) $3,622.00
• E) $4,421.67

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Definitions:

Trypanosomes

Single-celled parasitic organisms responsible for diseases like African sleeping sickness and Chagas' disease, transmitted by insect vectors.

Foraminiferans

Single-celled protists with shells, known for their role in marine ecosystems and as indicators of environmental change.

Rhizarians

A group of mostly unicellular eukaryotic organisms that include foraminifera, radiolarians, and cercozoans, characterized by their amoeboid movement and complex shell structures.

Coccolithophorids

A group of planktonic algae that produce calcium carbonate plates known as coccoliths, contributing significantly to marine sediments.