Deposits of $725 Are Made into an Account Earning J₄

question 22

Multiple Choice

Deposits of $725 are made into an account earning j₄ = 10% in order to accumulate to $21,500.It turns out that 22 deposits are needed,plus a bit more.If the final deposit is a drop payment made 3 months after the last regular deposit,what is the size of this final deposit?

• A)$588.79
• B)$574.43
• C)$51.29
• D)$0

---

Definitions:

Positive Attitudes

A mental state involving positive feelings or beliefs about a person, object, or situation.

Slogans

Short, memorable phrases designed to encapsulate and promote the ideals, goals, or products of an entity.

Recency Effect

An effect that occurs when recently encountered information primarily influences attitudes (e.g., a commercial viewed just before shopping influences a shopper’s choices).

Primacy Effect

The idea that what we learn early colors how we judge subsequent information.