You Just Won the Lottery and Want to Put Some

question 219

Multiple Choice

You just won the lottery and want to put some money away for your child's college education. College will cost $65,000 in 18 years. You can earn 8% compounded annually. How much do you need to invest today?

• A) $9,828.18
• B) $11,763.07
• C) $13,690.82
• D) $15,258.17
• E) $16,266.19

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Definitions:

Happiness

A state of well-being and contentment characterized by emotions ranging from contentment to intense joy.

Dispositional Optimism

The extent to which a person typically adopts an optimistic or pessimistic approach to dealing with life’s challenges.

Achieve

To successfully reach a desired goal or outcome through effort, skill, or courage.

Social Anxiety

The fear of social situations that involve interaction with other people, often driven by a fear of being judged or embarrassed.