Find the Amount of Each Payment Needed to Accumulate the Indicated

question 32

Multiple Choice

Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
-$9,100, money earns 8% compounded semiannually, 5 years

• A)$859.86
• B)$1,551.19
• C)$1,680.13
• D)$757.94

Understand the importance of adapting messages for international and diverse audiences.

Recognize and describe characteristics of high-context and low-context cultures.

Identify and explain the roles of polychronic and monochronic time orientations in multicultural contexts.

Apply guidelines for choosing bias-free photos and illustrations.

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Definitions:

Creditor

A party or institution to whom money is owed.

Default

The failure to fulfill an obligation, especially the failure to make payments on a loan.

Exempt Property

Assets that cannot be seized by creditors to satisfy a debt, as defined by law.

Judgment Debt

An obligation arising from a court's final decision requiring a debtor to pay a sum of money to the creditor.