Use This Information to Answer the Following Question

question 134

Multiple Choice

Use this information to answer the following question.
-If an accumulation of $16,000 is desired at the end of three years,what amount must be deposited at the end of each of the three years,assuming an APR of 12 percent?

• A)$4,742.15
• B)$53,984.00
• C)$11,387.90
• D)$22,480.00

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Definitions:

Minority Group

A social group that occupies a subordinate position in society and is given less access to power and resources than the dominant groups.

Multicultural Perspective

The view that each culture within a larger society has a particular set of values and beliefs, as well as special external pressures, that help account for the behavior and functioning of its members. Also called culturally diverse perspective.

Sociocultural

Pertaining to the interrelation of social factors and cultural practices.

Paradigms

Fundamental models or frameworks that define the concepts and practices within a scientific discipline or field of study.