On January 20, Derek Signed a Contract to Pay Violet

question 149

Multiple Choice

On January 20, Derek signed a contract to pay Violet $1,800 plus interest on August 15 and $2,200 plus interest on September 12. Both payments carried a 6% interest annually. Violet then sold both contracts to Stephanie on May 10 at a rate of 3.5% annually. Determine how much she received Round to the nearest $100.

• A) $5,267.29
• B) $4,859.27
• C) $4,459.27
• D) $4,039.27
• E) $3,827.29

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Definitions:

Right Ventricle

The chamber within the heart that receives deoxygenated blood from the right atrium and pumps it into the pulmonary artery.

Aorta

The main artery in the body, originating from the left ventricle of the heart and extending down to the abdomen, supplying oxygenated blood.

Deep Femoral Artery

An artery that branches off the femoral artery, supplying blood to the deep structures of the thigh.

Inferior Mesenteric Artery

A major artery that supplies blood to the lower regions of the colon and the rectum.