What Single Amount Deposited Now into an Account Paying $9 \frac { 2 } { 3 } \%$

question 171

Multiple Choice

What single amount deposited now into an account paying $9 \frac { 2 } { 3 } \%$ annual interest, compounded quarterly, would fund an annuity paying $\$ 3,050$ quarterly for the next 29 years?

• A) \(\quad \$ 118,273.49\)
• B) \(\$ 118,318.61\)
• C) \(\quad \$ 118,298.49\)
• D) \(\quad \$ 118,448.28\)

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Definitions:

Monthly Unit Sales

The quantity of units of a product sold within a month.

Break-even

The point at which total costs and total revenue are equal, meaning no profit or loss is generated, marking the threshold of profitability.

Monthly Dollar Sales

The total revenue generated from sales in a month, measured in dollars.

Break-even

A condition where the aggregate of all financial outgoings is identical to the aggregate of all income, resulting in a neutral earnings scenario.