Payments of $7,000 120 Days Ago and $3,000 90 Days

question 63

Multiple Choice

Payments of $7,000 120 days ago and $3,000 90 days ago are to be replaced by $4,500 60 days from now and a final payment 240 days from now. If interest is 5.95% annually, determine the value of the final payment.

• A) $4,851.61
• B) $4,926.86
• C) $5,424.38
• D) $5,727.60
• E) $5,940.14

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Definitions:

Gas Exchange

The biological process through which organisms exchange oxygen and carbon dioxide with their environment, vital for respiration.

Glottis

The part of the larynx consisting of the vocal cords and the slit-like opening between them, crucial for producing vocal sounds.

Vocal Cords

Bands of tissue in the larynx that vibrate to produce sound when air is expelled from the lungs.

Gas Exchange

The biological process through which organisms exchange gases with their environment, such as oxygen for respiration and carbon dioxide as a waste product.