Christine Parks Received a Trust Fund Inheritance of $10,000 on Her

question 18

Multiple Choice

Christine Parks received a trust fund inheritance of $10,000 on her 30th birthday. She plans to use the money to supplement her income with 24 quarterly payments beginning on her 60th birthday. If the money is worth an annual rate of 8% compounded quarterly, how much will each quarterly payment be? Round your answer to the nearest cent. ​

• A) $7,076.86
• B) $5,580.06
• C) $9,337.77
• D) $10,515.85
• E) $2,156.90

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Definitions:

Self-Esteem

Refers to an individual's perception of their own worth or value.

Benevolent Sexism

A form of sexism that is couched in terms that seem kind or benevolent toward women but actually supports traditional gender roles and perpetuates gender inequalities.

Violent Movie

A film genre that contains sequences of intense physical conflict, often including harm or brutality, intended to elicit a reaction from the viewer.

Pure

Often refers to something not mixed with any other substances, showing qualities of cleanliness or undefiled nature.