Find the Periodic Payment R Required to Accumulate a Sum

question 55

Multiple Choice

Find the periodic payment R required to accumulate a sum of S dollars over t years with interest earned at the rate of r%/year compounded m times a year. Round your answer to the nearest cent. ​
S = 20,000, r = 4, t = 7, m = 4
​

• A) R = $565.14
• B) R = $622.49
• C) R = $659.97
• D) R = $598.96

---

Definitions:

Continuous Tube Feeding

A method of delivering nutrition directly into the stomach or intestine through a tube, used when a person is unable to eat by mouth.

Gastrostomy Tube

A tube inserted through the abdomen directly into the stomach for the purpose of providing nutrition, hydration, or medication when oral intake is not possible.

Administration Rate

The speed or dose at which medication or treatments are given to a patient, critical for ensuring efficacy and minimizing side effects.

Container Empty

Indicates that a receptacle or storage unit currently holds no contents or material.