Find the Amount of Each Payment Needed to Accumulate the Indicated

question 57

Multiple Choice

Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
-$8,300, money earns 12% compounded monthly, 2 years

• A)$3,915.11
• B)$4,129.33
• C)$654.46
• D)$307.68

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Definitions:

Intellectual Work

Work that involves mental activity and creativity, often producing new ideas, literary or artistic works, or problem solving.

Trade Secret

Intellectual work, such as a business plan, that is a company secret and is not based on public information.

Copyright

A legal right granted to the creator of original works, giving them exclusive rights to use, distribute, and modify their work.

Information Extortion

The act of coercing individuals or organizations into paying money in exchange for not divulging confidential information.