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 How much remains in the account after the second payment has been withdrawn?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:

London

The capital and largest city of England and the United Kingdom, known for its rich history, architecture, arts, and diverse culture.

Strategy

A planned series of actions aiming at achieving specific goals or solving a problem.

Unskilled Person

An individual lacking professional skills or abilities, especially in relation to a particular task or job.

Diet

The sum of food and drink that an individual habitually consumes, which can significantly impact health and well-being.