Zendor Company Wants to Have $200,000 Available in August 2021

question 118

Multiple Choice

Zendor Company wants to have $200,000 available in August 2021 to make an equipment purchase.To be able to have this amount available,Zendor will make equal annual deposits in an investment account earning 12% annually in June 2017,2018,2019,2020,and 2021.What is the dollar amount that must be deposited each of those years to achieve this objective?

• A)$22,700
• B)$31,480
• C)$40,000
• D)$55,480

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Definitions:

Instinctive Behaviors

Actions or reactions that an organism is innately predisposed to perform without being learned.

Genetically Transmitted

Refers to traits or disorders that are passed from parents to their offspring through their genes.

Prenatally

Pertaining to the period or development before birth; during or relating to pregnancy.

Male Sex Hormones

Androgens such as testosterone, which are responsible for the development of male secondary sexual characteristics and reproductive functions.