What Is the Total Increase in the 71st Monthly Deposit

question 27

Multiple Choice

What is the total increase in the 71st monthly deposit interval of a sinking fund that is for 14 years and the sinking fund earn 4.8% compounded monthly? The original principal was $250000.

• A) $1883.94
• B) $1383.94
• C) $1333.94
• D) $1888.94
• E) $1880.94

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Definitions:

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Describes interactions between individuals or groups that are characterized by mutual understanding, cooperation, and a lack of conflict.

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A calculated income level used to determine an individuals or families' economic status and whether they are considered living in poverty.

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A systematic enumeration of the population, typically recording various details of individuals.

New Hope Study

A research project investigating the effects of providing low-income individuals and families with a combination of income supplements and access to work opportunities on employment, income, and children's well-being.