Deposits of $2000 Are Made Every 6-Months for 6-Years in a Fund

question 8

Multiple Choice

Deposits of $2000 are made every 6-months for 6-years in a fund that pays interest at j₂ = 8%.Just after the 12^th deposit,the interest rate changes to j₄ = 8% and quarterly deposits of $1000 are now made,first deposit 3 months after the interest rate change.How much is in the fund immediately after the 20^th deposit of $1000?

• A)$54,348.98
• B)$68,495.94
• C)$68,781.09
• D)$68,952.48

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Definitions:

Panic Disorder

A mental health condition characterized by sudden and repeated episodes of intense fear accompanied by physical symptoms.

Biological Preparedness

Refers to the idea that humans and animals are biologically prepared to fear certain stimuli as opposed to others. That is, evolution has “hard-wired” organisms to easily learn those associations that facilitate species survival.

Specific Phobias

Intense, irrational fears of specific objects or situations that lead to avoidance behavior and significant distress.

Learning To Fear

The process through which fear responses are acquired through experiences or observations of certain stimuli.