Suppose Payments Were Made at the End of Each Quarter

question 100

Multiple Choice

Suppose payments were made at the end of each quarter into an ordinary annuity earning interest at the rate of 12%/year compounded quarterly. If the future value of the annuity after 3 years is $40,000, what was the size of each payment? Round your answer to the nearest cent. ​

• A) R = $2,818.48
• B) R = $2,761.13
• C) R = $2,794.95
• D) R = $2,855.96

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Definitions:

Blind Technological Optimism

The belief in technology as a solution for all problems, without consideration for potential negative impacts or failures.

Sustainable Living

A lifestyle that seeks to reduce an individual's or society's use of the Earth's natural resources and personal resources to minimize environmental impact.

Technology Solution

The application of scientific knowledge and digital tools to solve practical problems and improve human life.

Ecofeminist

A movement that combines ecological concerns with feminist perspectives, emphasizing the link between the exploitation of nature and the oppression of women.