Two Payments of $49 000 Each Must Be Made 3

question 169

Multiple Choice

Two payments of $49 000 each must be made 3 year and 5 year from now. If money can earn 4.9% compounded monthly, what single payment 5 years from now would be equivalent to the two scheduled payments?

• A) $98 117
• B) $98 000
• C) $103 034
• D) $105 742
• E) $101 177

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Definitions:

Fixed Amount

A specific, predetermined sum of money, often referring to payments or financial obligations that do not vary.

SOAP

An acronym that stands for Subjective, Objective, Assessment, and Plan, used in medical documentation.

Physician

A medical doctor who diagnoses and treats illnesses, manages medical conditions, and may prescribe treatment or medication.

Patient

An individual who is receiving medical care, treatment, or advice from healthcare professionals.