Benjamin Is Planning to Go to Graduate School in a Program

question 7

Multiple Choice

Benjamin is planning to go to graduate school in a program that will take three years.Benjamin wants to have $10,000 available each year for his school and living expenses.If he earns 6% on his investments,approximately how much must be deposited at the start of his studies for him to withdraw $10,000 a year for three years?

• A)$10,000
• B)$18,390
• C)$26,730
• D)$29,100
• E)$30,000

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Definitions:

D. Melanogaster

Drosophila melanogaster, a species of fruit fly used extensively in genetic research due to its simple genetics and short life cycle.

Arabidopsis

A small flowering plant, Arabidopsis thaliana, used as a model organism in plant genetics and molecular biology.

Plant Development

The process by which plants grow and differentiate, from germination to senescence, shaped by environmental and genetic factors.

M. Musculus

The scientific name for the common house mouse, an important model organism in biological and medical research.