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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The shared values, beliefs, norms, and practices that shape the social and psychological environment of a business or institution.

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A set time or routine for engaging in prayer, often observed by individuals or religious groups as a part of their spiritual practice.