You Want to Deposit Amounts in the Bank at the End

question 30

Multiple Choice

You want to deposit amounts in the bank at the end of 2011,2012,2013 and 2014,so that you have $1259.71 in your account on 1 January 2015.Calculate how large each of your payments would need to be if the bank compounds quarterly at 8% p.a.

• A)$279.56
• B)$259.83
• C)$284.19
• D)$314.93

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Definitions:

Digestive Tract

The series of hollow organs joined in a long, twisting tube from the mouth to the anus, through which food is digested and nutrients absorbed.

Chief Cells

Cells located in the stomach that secrete pepsinogen, an enzyme precursor that plays a key role in digestion.

Pepsinogen

The precursor of pepsin; secreted by chief cells in the gastric glands of the stomach.

Hydrochloric Acid

A strong corrosive acid that is used in the digestive system to help digest food and kill bacteria.