Theodoro Has Just Received an Insurance Settlement of $18,500

question 35

Multiple Choice

Theodoro has just received an insurance settlement of $18,500.She wants to save this money until her daughter goes to college.If she can earn an average of 5.2 percent, compounded annually, how much will she have saved when her daughter enters college 9 years from now?

• A)$29,662.53
• B)$30,485.41
• C)$30,931.28
• D)$29,431.45
• E)$29,195.33

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Definitions:

Sinkhole

A natural depression formation caused by the dissolution of soluble bedrock or substrate collapse.

Weathering

The natural process where rocks are broken down or dissolved into smaller pieces by chemical, physical, or biological factors.

Clay Minerals

A group of hydrated silicates of aluminum, sometimes with iron, magnesium, or other cations, which possess fine-grained structures and are a major component of soils.

Plant Cover

The layer of vegetation or plants that covers the ground in a specific area, crucial for maintaining ecosystems and influencing water and soil quality.