Find the Amount of Each Regular Payment to Provide $21,000

question 46

Multiple Choice

Find the amount of each regular payment to provide $21,000 in 10 years, at an annual rate r = 6%, compounded semiannually.

• A)$798.43
• B)$804.23
• C)$781.53
• D)$792.88
• E)$795.03

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Definitions:

Selfish

Concerned excessively or exclusively with oneself, without regard for the well-being of others.

Psychosexual Development

Sigmund Freud's theory of the stages of child development, each characterized by a focus on pleasure from a specific area of the body, shaping personality.

Phallic Stage

A phase in Freud's psychosexual development, occurring from about ages 3 to 6, where the libido (sexual energy) focuses on the genital area.

Oral

Relating to the mouth, including the act of speaking, intake of food, or in medical terms, medication taken by mouth.