Adam Borrows $4,500 at 12 Percent Annually Compounded Interest to Be

question 8

Multiple Choice

Adam borrows $4,500 at 12 percent annually compounded interest to be repaid in four equal annual installments. The actual end-of-year payment is ________.

• A) $ 942
• B) $1,125
• C) $1,482
• D) $2,641

---

Definitions:

SDLC

Software Development Life Cycle (SDLC) is a process followed in software engineering to design, develop, and test high-quality software through distinct phases like planning, analysis, design, implementation, and maintenance.

Prototype

An early sample, model, or release of a product built to test a concept or process or to act as a thing to be replicated or learned from.

Design Phase

A stage in a project where the plans, specifications, and blueprint for the project are developed.

Agile Development

A method of software development emphasizing incremental delivery, team collaboration, continual planning, and continual learning.