You Have Decided to Save $30 a Week for the Next

question 92

Multiple Choice

You have decided to save $30 a week for the next three years as an emergency fund. You can earn 3.5% compounded weekly. How much would you have to deposit in one lump sum today to have the same amount in your savings at the end of three years?

• A) $4,288.87
• B) $4,305.19
• C) $4,382.74
• D) $4,414.14
• E) $4,441.26

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Definitions:

Productive

Relating to the ability to produce a significant amount or result, especially regarding work or economic activity.

Voice Recognition

A technology that allows devices to identify and interpret human speech, enabling hands-free control and interaction.

AI

Artificial Intelligence (AI) refers to the simulation of human intelligence in machines programmed to think and learn like humans.

IoT

Stands for Internet of Things, referring to the network of physical objects—devices, vehicles, appliances—that use sensors and APIs to connect and exchange data over the internet.