Multiple Compounding (PV): Joan Alexander Wants to Go on a Cruise

question 13

Multiple Choice

Multiple compounding (PV) : Joan Alexander wants to go on a cruise in three years. She could earn 8.2 percent compounded monthly in an account if she were to deposit the money today. She needs to have $10,000 in three years. How much will she have to deposit today? (Round to the nearest dollar.)

• A) $6,432
• B) $7,826
• C) $8,148
• D) $7,763

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Definitions:

Gram-negative

Bacteria characterized by a thin layer of peptidoglycan in their cell wall, covered by an outer membrane containing lipopolysaccharides; stains pink in Gram staining.

Cyanobacteria

Photosynthetic microorganisms, also known as blue-green algae, that are key players in nitrogen fixation and oxygen production in various ecosystems.

Lichens

Symbiotic associations between a fungus and a photosynthetic partner, typically an alga or cyanobacterium, living together in a mutualistic relationship.

Horizontal Gene Transfer

The movement of genetic material between unicellular and/or multicellular organisms other than by the "vertical" transmission of DNA from parent to offspring.