$12,000 Due Today Is to Be Replaced by Three Equal

question 258

Multiple Choice

$12,000 due today is to be replaced by three equal payments in 30, 60 and 90 days from today. If interest is 8.4% annually, determine the value of the payments. Use a focal date of today.

• A) $4,055.87
• B) $4,165.26
• C) $4,276.65
• D) $4,387.42
• E) $4,598.57

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Definitions:

Combo Box

An interactive control found in user interfaces that allows the user to choose an item from a list or type a value.

List Box

A user interface element that displays a list of options from which a user can select one or more items.

Text Box

A GUI element that enables the user to input text information into a document, form, or web page.

Text Box Controls

UI elements within a software application that allow users to input text into a designated area.