Billy Deposits $800 at the End of Every 3-Months in a Fund

question 37

Multiple Choice

Billy deposits $800 at the end of every 3-months in a fund earning interest at j4 = 12%.At the end of 3 years,the interest rate changes to j4 = 8%.What is the accumulated value immediately after his 20th deposit?

• A)$18,220.00
• B)$20,168.95
• C)$21,248.81
• D)$21,496.30

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Definitions:

George Ritzer

George Ritzer is an American sociologist known for his work on consumerism, globalization, and the theory of McDonaldization, which describes the increasing rationalization of society.

"Nonplaces"

Spaces that do not hold enough significance to be regarded as "places," such as airports, highways, and shopping malls, as defined by anthropologist Marc Augé.

"Nonpeople"

A term that describes individuals or groups who are marginalized, dehumanized, or rendered invisible by dominant social, economic, or political systems.

George Ritzer

An American sociologist known for his work on consumerism, globalization, and the theory of McDonaldization of society.