You Make 4 Semi-Annual Deposits Starting at $350 and Increasing

question 69

Multiple Choice

You make 4 semi-annual deposits starting at $350 and increasing at a constant rate of 2.14%. The interest rate is 5.12% compounded annually. How much has been deposited in total?

• A) $1445.59
• B) $1454.59
• C) $1400.00
• D) $1459.59
• E) $1444.59

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Definitions:

Voting Outcome

The result of a voting process, determining which candidates or measures have been selected or rejected based on majority preference.

Majority Vote

A decision rule in which the option that receives more than half of the votes is chosen.

Economic Efficiency

A state where resources are allocated in the most effective way possible, maximizing output without wasting any inputs, ensuring that goods and services are produced at the lowest possible cost and distributed to those who value them most.

Deregulation

The process of removing or reducing government controls and restrictions in an industry to allow for more competition and efficiency.