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:

1848

A year marked by widespread revolutions across Europe, driven by demands for political and social reform.

Mission

A specific task or duty assigned to a person or group, often implying a long-term goal or objective.

Slaves

Individuals who are legally owned by others and forced to work without pay, often under harsh conditions.