Assuming an 8% Interest Rate,the Dollar Amount Available on June

question 27

Multiple Choice

Assuming an 8% interest rate,the dollar amount available on June 1,2016,resulting from 7 annual deposits of $3,500 each with the first deposit made on June 1,2010,is:

• A)$18,222.40
• B)$31,229.81
• C)$41,988.10
• D)$30,498.30

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Definitions:

Small Band Stride

A style of jazz piano playing characterized by a left-hand technique that creates a rhythmic stride pattern, often performed by small bands or solo pianists.

Batouala

A novel by René Maran, notable for its critical portrayal of colonialism in Africa; it was awarded the Prix Goncourt in 1921.

Harlem Renaissance

A cultural, social, and artistic explosion centered in Harlem, New York, during the 1920s, marking a period of rich cultural growth among African Americans.

René Maran

A French writer of Guyanese descent who won the 1921 Goncourt Prize for his novel "Batouala," a pioneering work that represented a significant breakthrough in representing African culture and critiques of colonialism.