What Lump Sum Should Be Deposited in an Account That

question 44

Multiple Choice

What lump sum should be deposited in an account that will earn at an annual rate of 7%, compounded quarterly, to grow to $90,000 for retirement in 20 years? Round your answer to the nearest cent. ​

• A)$29,594.17
• B)$5,741.36
• C)$44,828.96
• D)$14,219.12
• E)$22,464.10

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Definitions:

Reducing Alcohol

The practice of decreasing alcohol intake, often aimed at improving health, avoiding adverse effects, or recovering from dependency.

Naltrexone

A medication primarily used in the management of alcohol dependence and opioid dependence.

Alcohol Use Disorder

A health issue characterized by an inability to control or stop alcohol consumption, in spite of facing serious negative consequences in social settings, at work, or health-wise.

Neurotransmitters

Chemicals that transmit signals across a neural synapse between neurons, playing a crucial role in the body's response systems.