Elliot Industries Invests a Portion of Its Profits Each Year

question 92

Essay

Elliot Industries invests a portion of its profits each year into a benefit emergency health care account for its employees.For the last five years it has invested year-end amounts of $50,000,$43,000,$26,000,$61,000,and $84,000.If the last deposit ($84,000)was made today and the account earns an average of 7.3% per year,how much money is currently in the account,assuming there have been no withdrawals?

---

Definitions:

Propositions

Statements or assertions that express judgments or opinions that can be either true or false, used in logic and mathematics as well as in the analysis of language and thought.

Function Words

Words that have little lexical meaning or have grammatical function but are necessary for the structure of a sentence, such as prepositions, pronouns, and conjunctions.

Content Words

Words in a sentence that carry the significant information or meaning, as opposed to function words which are structural.

Reading Sentences

The process of decoding a series of words to understand their intended meaning, crucial for communication and gaining information.