A company has developed a unique way to allow their employees to accumulate $5000 in order to buy $5000 worth of shares in the company.The company will set up an account for each employee,paying interest at j₁₂ = 12%.At the end of every month the company will deduct an amount from an employee's pay and deposit it into this account (first deduction made 1 month from now).The company has decided to deduct n-payments of $81.25,plus make a smaller concluding deduction one month after the final deduction of $81.25,at which time the employee will have $5000.What is the size of this smaller concluding deduction? A)$24.08 B)$25.66 C)$25.92 D)No final deduction is needed

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The Answer of A company has developed a unique way to allow their employees to accumulate $5000 in order to buy $5000 worth of shares in the company.The company will set up an account for each employee,paying interest at j₁₂ = 12%.At the end of every month the company will deduct an amount from an employee's pay and deposit it into this account (first deduction made 1 month from now).The company has decided to deduct n-payments of $81.25,plus make a smaller concluding deduction one month after the final deduction of $81.25,at which time the employee will have $5000.What is the size of this smaller concluding deduction? A)$24.08 B)$25.66 C)$25.92 D)No final deduction is needed

A Company Has Developed a Unique Way to Allow Their