A Person Deposits $100 into a Fund Paying Interest at J₄

question 56

Multiple Choice

A person deposits $100 into a fund paying interest at j₄ = 6%.Each succeeding quarterly deposit is to be 2% higher.How much has been accumulated in the fund immediately after the 18^th deposit?

• A)$2454.38
• B)$2418.11
• C)$2089.92
• D)$1877.39

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Definitions:

Vice-President

An official or executive ranking below the president of a country or a company, often with delegated duties or powers and serving as a successor in case the president cannot serve.

Automatic Stabilizers

Economic policies and programs designed to balance fluctuations in a nation's economic activity without additional intervention, such as unemployment benefits and progressive taxes.

Economic Stimulus

Governmental measures intended to encourage economic growth or avoid economic slowdowns, typically involving increased public spending and tax reductions.

Record Budget

A detailed financial document recording projected revenue and expenditure over a specific period, often indicating a surplus or deficit.