Cosmos Touring Wishes to Replace Its Luxury Bus in 10

question 74

Multiple Choice

Cosmos Touring wishes to replace its luxury bus in 10 years by accumulating funds in a special account. The new bus is expected to cost $180,000. How much must Cosmos put into the fund in equal, end-of-year amounts if earnings are expected to be 8% for the first 4 years and 10% thereafter?

• A) $12,107
• B) $11,465
• C) $9,901
• D) $14,727

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The use of digital systems to verify a person's eligibility for certain benefits or services, such as healthcare coverage.

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A fixed amount paid by a patient for a covered healthcare service, usually payable at the time of the service.

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Health care services received from providers not contracted with the patient's health insurance plan, often resulting in higher out-of-pocket costs.

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