A Small Foundry Agrees to Pay $250,000 Two Years from Now

question 64

Multiple Choice

A small foundry agrees to pay $250,000 two years from now to a supplier for a given amount of coking coal.The foundry plans to deposit a fixed amount in a bank account every three months,starting three months from now,so that at the end of two years the account holds $250,000.If the account pays 5.5% APR compounded monthly,how much must be deposited every three months?

• A)$29,770
• B)$29,777
• C)$29,740
• D)$31,250
• E)$28,077

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Definitions:

Person-Centered Approach

A psychological approach developed by Carl Rogers that emphasizes human dignity and the self-actualization of individuals, viewing them as inherently good and capable of solving their own problems.

Defense Mechanisms

Subconscious tactics employed to shield oneself from unease caused by thoughts or feelings that are not acceptable.

Treats and Gifts

Items given to someone without expectation of return, often as a form of appreciation or celebration.

Person-Centered Approach

A counseling and therapeutic framework focusing on client autonomy and the therapist's empathy and unconditional positive regard.