Multiple Compounding (PV): Darius Miller Is Seeking to Accumulate $50,000

question 91

Multiple Choice

Multiple compounding (PV) : Darius Miller is seeking to accumulate $50,000 in six years to invest in a real estate venture. He can earn 6.35 percent annual interest with monthly compounding in a private investment. How much will he have invest today to reach his goal? (Round to the nearest dollar.)

• A) $37,527
• B) $47,015
• C) $34,193
• D) $31,648

---

Definitions:

Arithmetically

Pertaining to or related to arithmetic, the basic branch of mathematics dealing with the properties and manipulation of numbers.

Geometrically

Pertains to or is characterized by the principles of geometry, involving shapes, sizes, and the relative positions of figures.

Negative Checks

In demographic terms, factors that decrease population growth, including disease, famine, and war, as described by Malthus.

Natural Disasters

Severe and unexpected events caused by environmental factors that result in significant damage, destruction, or loss of life.