Trish Needs to Have $20,000 One Year from Now

question 18

Multiple Choice

Trish needs to have $20,000 one year from now.She plans to make 9 equal monthly deposits,first deposit made today.What is the size of each deposit needed if the money is deposited into an account paying j₁₂ = 6%?

• A)$2135.12
• B)$2145.80
• C)$2156.53
• D)$2178.15

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Definitions:

Smiling

is a facial expression formed by flexing the muscles at the edges of the mouth, typically signaling joy, amusement, or sociability.

Variable

A characteristic, number, or quantity that can change or vary, often used in research to measure and analyze differences or effects.

Experimental Group

A group in a scientific study that receives the treatment or intervention being tested, allowing researchers to measure the effect of the treatment.

Control Group

In experimental research, the group of subjects not exposed to the treatment, used as a benchmark to measure the effect of the treatment group.