Use a Geometric Progression to Calculate the Value of an Investment

question 9

Multiple Choice

Use a geometric progression to calculate the value of an investment where 12 monthly payments of £250 are made with a nominal level of interest of 4.8% accrued monthly (to the nearest £1) .

• A) £3,079
• B) £3,066
• C) £3,057
• D) £3,043

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Definitions:

Bereaved Persons

Individuals who are experiencing grief and mourning the loss of a loved one.

Pangs of Grief

Intense emotional suffering or distress experienced as a result of loss, especially of a loved one.

Bereavement

The state of sorrow over the death or departure of a loved one, characterized by a range of emotional responses.

Posttraumatic Stress Disorder

A mental health condition triggered by experiencing or witnessing a terrifying event, characterized by flashbacks, nightmares, and severe anxiety.