If $6,000 Is Deposited at the End of Each Half

question 1

Multiple Choice

If $6,000 is deposited at the end of each half year in an account that earns an annual rate of 6.3% compounded semiannually, how long will it be before the account contains $170,000? Round your answer to two decimal places. ​

• A) 8.83 half years
• B) 51.19 half years
• C) 43.82 half years
• D) 34.25 half years
• E) 20.57 half years

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Definitions:

Variability Control

A practice in quality management aiming to reduce or eliminate variation in processes or products to ensure consistency and reliability.

Service Quality

The degree to which a delivered service meets and fulfills the customer's expectations and requirements.

Determinants

Factors that decisively affect the nature or outcome of something.

Quality Management

A strategic approach focused on maintaining and improving the quality of products and services in organizations, ensuring customer satisfaction and compliance with regulations.