A Man Estimates That the Computer He Plans to Buy

question 259

Multiple Choice

A man estimates that the computer he plans to buy in 17 months will cost $3,600.To meet this goal, how much should he deposit in an account paying 12.7%, compounded monthly?

• A)$3,014.07
• B)$2,990.07
• C)$2,980.07
• D)$3,010.07
• E)none of the above

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Definitions:

Ordinary Shareholders

Investors who own ordinary shares in a company, granting them rights to dividends and voting in company affairs.