Solve the Problem. -If $300,000 Is to Be Saved Over 25 Years, How

question 16

Multiple Choice

Solve the problem.
-If $300,000 is to be saved over 25 years, how much should be deposited monthly if the investment earns 8% interest compounded monthly?

• A) $315.45
• B) $180.48
• C) $260.87
• D) $216.62

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Definitions:

Pyroclastic Flows

Fast-moving currents of hot gas and volcanic matter (collectively known as tephra) that move away from a volcano during an explosive eruption.

Eruption Column

A column of volcanic ash and gas that erupts into the atmosphere during a volcanic explosion.

Volcanic Mudflows

A fast-moving flow of volcanic materials, water, and debris known as a lahar, typically associated with intense volcanic activity.

Obsidian

A generally gray to black, shiny volcanic glass, usually of felsic composition.