Find the Amount of an Annuity That Consists of 8 $24 \%$

question 94

Essay

Find the amount of an annuity that consists of 8 monthly payments of $1200 each into an account that pays $24 \%$ interest per year.

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Definitions:

Hair Follicle Receptors

Sensory nerve fibers that surround each hair follicle and are sensitive to the movement of the hair, providing tactile feedback.

Mechanoreceptors

Sensory receptors that respond to mechanical pressure or distortion, involved in detecting touch, pressure, sound, and proprioception.

Brainstem

The brainstem is the structure located at the base of the brain that connects the cerebrum with the spinal cord, and is responsible for controlling vital life functions such as breathing, heart rate, and blood pressure.

Optic Nerve

The cranial nerve that transmits visual information from the retina to the brain.