Three Thousand Dollars Is Deposited into an Account Paying 10

question 112

Multiple Choice

Three thousand dollars is deposited into an account paying 10% annually to provide three annual withdrawals of $1,206.34 beginning in one year. How much remains in the account after the second payment has been withdrawn?

• A) $1,326.97
• B) $1,206.34
• C) $1,096.69
• D)$587.32

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Definitions:

Auditory Ossicles

The three small bones in the middle ear that transmit sound vibrations from the eardrum to the inner ear.

Endolymph

Fluid found within the membranous labyrinth of the inner ear.

Perilymph

The fluid that lies between the membranous and bony labyrinth of the inner ear, aiding in hearing and balance.

Oval Window

A membrane-covered opening that leads from the middle ear to the inner ear, vibrating in response to sound waves and transferring those vibrations into the cochlea.