Vicki Paid for a Kitchen Set Over Time, Signing an Installment

question 136

Essay

Vicki paid for a kitchen set over time, signing an installment contract that requires semi-annual payments of $500.00 for 5 years. The first payment is made on the signing date and interest is 18% compounded semi-annually. What was the cash price?

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Definitions:

Heterozygous

A genetic condition where an individual has two different alleles of a gene.

Barr Bodies

Inactivated X chromosomes found in the nuclei of female cells, visible as dense bodies, used to equalize gene expression between sexes.

Sex Chromosomes

Chromosomes involved in determining the gender of an organism, typically one pair per organism, such as X and Y chromosomes in humans.

Female

An individual of the species that is typically characterized by the production of eggs or ovum and, in mammals, possession of two X chromosomes.