Lori Miller Deposits $2, 000 Each Year into a Savings

question 53

Multiple Choice

Lori Miller deposits $2, 000 each year into a savings account beginning January 1, 2010.The last payment will be made on January 1, 2019, after which the total amount will be withdrawn to purchase a yacht.To find the amount available on January 1, 2014, after the last payment, Lori must determine

• A)the present value of an ordinary annuity
• B)the present value of a single sum
• C)the future value of an ordinary annuity
• D)the future value of a single sum

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Definitions:

Cognitive-Behavioral Therapists

Mental health professionals who use techniques from cognitive therapy and behavioral therapy to modify dysfunctional emotions, behaviors, and thoughts.

Eastern Philosophies

A diverse body of ideas originating in Asia, including philosophical traditions from China, India, Japan, and other regions, often emphasizing spirituality and the inner life.

Unconditional Positive Regard

An attitude of total acceptance and support towards another person, regardless of what they say or do.

Client-centered Therapy

A form of psychotherapy developed by Carl Rogers that emphasizes an empathetic, accepting, and genuine environment for clients to facilitate personal growth.