Solve the Problem. -Austin Invested $12,000 in an Account at 8% Compounded Quarterly

question 222

Multiple Choice

Solve the problem.
-Austin invested $12,000 in an account at 8% compounded quarterly. Find the amount in Austin's account after a period of 4 years.

• A)$16,150.42
• B)$16,473.43
• C)$4473.43
• D)$16,325.87

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Definitions:

Back Ordering

Refers to the process of accepting and processing orders for currently out-of-stock goods to be fulfilled when the stock is replenished.

Services

Activities or benefits provided to consumers or businesses that do not result in the ownership of tangible goods.

Manufacturing

The process of converting raw materials, components, or parts into finished goods that meet a customer's expectations or specifications.

Aggregate Planning

A process in operations management aimed at determining the optimal levels of production, inventory, and workforce to meet forecasted demand over a medium-term horizon.