Solve the Application Problem

question 52

Multiple Choice

Solve the application problem. Round to the nearest cent.
-Green Thumb Landscaping wants to build a $129,000 greenhouse in 2 years. The company sets up a sinking fund with payments made quarterly. Find the payment into this fund if the money earns 8% compounded quarterly.

• A)$17,351.79
• B)$12,127.29
• C)$63,861.45
• D)$15,029.79

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Definitions:

Political Preference

An individual's inclination or bias toward one or more political parties, ideologies, or policy positions.

Respondents

Individuals who provide data or answers to questions in a survey or study.

One-sample Chi-square

A statistical test that determines if the observed frequencies differ significantly from the expected frequencies in one categorical dataset.

Correct Formula

The precise and accurate equation or expression used to calculate or solve a particular mathematical or analytical problem.