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Calculate the Result to the Nearest Cent Given N = Ri11(1+i)n\frac{R}{i}\left\lfloor 1-\frac{1}{(1+i)^{n}}\right\rfloor

Question 389

Multiple Choice

Calculate the result to the nearest cent given n = 3; i = .087 and R = $925 Ri11(1+i) n\frac{R}{i}\left\lfloor 1-\frac{1}{(1+i) ^{n}}\right\rfloor


A) $18,716.57
B) $22,512.13
C) $5,341.55
D) $2,354.02
E) $2,158.21

Correct Answer:

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