A Company Deposits $5000 at the End of Every Month

question 30

Multiple Choice

A company deposits $5000 at the end of every month into a fund that pays j₄ = 18%.What is the equivalent quarterly deposit,made at the end of every 3-month period,if the fund credits simple interest for the fractional part of an interest period?

• A)$15,222.80
• B)$15,225.00
• C)$15,450.00
• D)$15,685.13

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Definitions:

Cytokinesis

The process during cell division in which the cytoplasm of a single eukaryotic cell is divided to form two daughter cells.

Eukaryotic Chromosomes

Linear DNA molecules contained in the nucleus of eukaryotic cells, associated with a large variety of proteins such as histones, facilitating gene regulation and chromosome organization.

Histone Proteins

Proteins that package and order DNA into structural units called nucleosomes, playing a key role in gene regulation and expression.

Linear DNA

DNA molecules that are structured in a straight or nearly straight line, as opposed to being circular.