Mark Deposits $900 at the End of Each Month in a Savings

question 75

Multiple Choice

Mark deposits $900 at the end of each month in a savings account earning 4.5% quarterly. How soon can he buy his first car assuming that he needs $8 000 for a decent car.

• A) 8.76 months
• B) 8.52 months
• C) 9.06 months
• D) 9 years
• E) 8.86 months

Understand the evolution and impact of the modern civil rights movements, including those pertaining to women and LGBTQ individuals.

Recognize the role and impact of societal movements in prompting legislative and judicial change.

Understand the legal definitions and consequences of crimes and how they are categorized.

Understand significant Supreme Court decisions related to civil rights and their societal impacts.

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Definitions:

Ability-To-Pay Principle

This principle suggests that individuals should be taxed based on their ability to pay, regardless of the benefits they receive.

Equity Principle

A concept in finance that emphasizes fair distribution of wealth and assets, ensuring that financial transactions are conducted fairly and equitably.

Taxes

Mandatory financial charges or levies imposed by a government on individuals or businesses to fund public expenditure.

Proportional Tax

A tax system where the tax rate remains constant regardless of the amount subject to taxation, meaning all taxpayers pay the same percentage of their income.