Your Goal Is to Accumulate in 4 Years $5,000

question 32

Multiple Choice

Your goal is to accumulate in 4 years $5,000.If you can earn a rate of 4%, compounded monthly, what will be your end of month monthly payment need to be to reach this goal?

• A)$96
• B)$104
• C)$124
• D)$262
• E)$300

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Definitions:

Posttest Loop

A loop that executes its body at least once before checking its condition at the end of each iteration.

Condition-Controlled

A loop that executes as long as a specific condition remains true.

Sentinel-controlled

Describes a loop or sequence that continues execution until a sentinel value is encountered.

Condition-controlled Loop

A loop that continues execution as long as a specified condition remains true.