Abe Deposited a Sum of Money at the End of Every

question 58

Multiple Choice

Abe deposited a sum of money at the end of every month for 15 years at 8.5% compounded monthly. After the last deposit, interest for the account is to be 3.5% compounded quarterly and the account is to be paid out by end-of-quarter quarterly payments of $5905.00 over 17 years. What is the size of the monthly deposit?

• A) $560 735
• B) $1550
• C) $756
• D) $1160
• E) $1466

---

Definitions:

Alcoholics Anonymous

A worldwide fellowship of individuals who share their experience, strength, and hope with each other to solve their common problem of alcoholism.

Structure

The arrangement or organization of elements within a system, providing a framework or order.

Group Cohesion

The sense of solidarity, unity, and togetherness experienced within a group, contributing to its members working effectively towards a common goal.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, policies, or societal expectations.