A Man Makes an Initial Deposit of $1000

question 77

Multiple Choice

A man makes an initial deposit of $1000.Every three months thereafter his deposits are $50 lower than the previous deposit.If j₄ = 10%,how much has he accumulated at the time of the 16^th deposit? (Answer to the nearest dollar)

• A)$26,141
• B)$19,380
• C)$19,211
• D)$12,620

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Definitions:

Kwashiorkor

A form of severe malnutrition or protein-energy malnutrition characterized by edema, irritability, anorexia, ulcerating dermatoses, and an enlarged liver.

Marasmus

A severe form of malnutrition caused by inadequate intake of protein and calories, characterized by wasting and stunted growth.

SIDS

Sudden Infant Death Syndrome, an unexplained death, usually during sleep, of a seemingly healthy baby less than a year old.

Sleeping Position

The posture or arrangement in which a person positions their body while sleeping, which can affect health and comfort.