Find the Amount of Each Regular Payment to Provide $12,500

question 172

Multiple Choice

Find the amount of each regular payment to provide $12,500 in 15 years, at an annual rate r = 6%, compounded quarterly.

• A)$203.92
• B)$143.62
• C)$137.17
• D)$129.92
• E)$141.97

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Definitions:

Daphne Major

An island in the Galápagos Archipelago noted for extensive research on evolutionary biology, particularly on finches.

Unity of Direction

A principle in management that suggests all parts of an organization should be aligned and moving towards the same objectives through coordinated efforts.

Henri Fayol

A French engineer and scholar who developed the general theory of business administration and is best known for his 14 principles of management.

Scalar Chain

A principle of organizational management that establishes a clear line of authority from the top ranks through to the bottom levels within an organization.