Alan Burnie Has Just Started Work and Has Been Wanting

question 10

Multiple Choice

Alan Burnie has just started work and has been wanting to buy a sleek powerboat for sometime. Rather than purchase and finance now, he plans to save every three months and increase the deposits by 3% per annum as he expects raises at least that large. How much must the first deposit be if the boat costs $25,000 today and he expects to earn 10% on the money over the next five years?

• A) $1,501.56
• B) $2,081.99
• C) $1,561.49
• D) $6,097.27
• E) $2,359.82

---

Definitions:

Flexible Manufacturing Systems

Integrated manufacturing systems that use computer-controlled machinery, automation, and flexible processes to produce a variety of products efficiently.

Control Programs

Techniques and measures implemented to regulate processes and activities to ensure they meet desired standards and objectives.

Repetitive Process Line

A manufacturing process in which products are made through a sequential and continuous manner, characterized by a highly standardized production flow.

Floral Arrangement

The art of selecting and organizing flowers and foliage into a pleasing design, often for decorative purposes.