You Make Deposits at the End of Every 3-Months into a Fund

question 38

Multiple Choice

You make deposits at the end of every 3-months into a fund earning interest at j₄ = 8%.The first deposit is $500 and each succeeding deposit is 5% less than the preceding deposit.How much have you accumulated at the time of the 20^th deposit?

• A)$5528.00
• B)$7650.63
• C)$8053.30
• D)$8214.36

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Definitions:

Middle Adulthood

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Midlife Crisis

A psychological crisis over identity and self-confidence that can occur in middle-aged individuals, typically between the ages of 40 and 60.

Levinson

Levinson is a surname that might refer to various individuals, including Daniel J. Levinson, an American psychologist known for his theory on human development, especially regarding adulthood stages.

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