What Amount Should an Individual Have in a Bank Account

question 75

Multiple Choice

What amount should an individual have in a bank account today before withdrawal if $5,000 is needed each year for four years with the first withdrawal to be made today and each subsequent withdrawal at one-year intervals? (The balance in the bank account should be zero after the fourth withdrawal.)

• A)$5,000 + ($5,000 × 0.909) + ($5,000 × 0.826) + ($5,000 × 0.751)
• B)$5,000 ÷ 0.683 × 4
• C)($5,000 × 0.909) + ($5,000 × 0.826) + ($5,000 × 0.751) + ($5,000 × 0.683)
• D)$5,000 ÷ 0.909 × 4

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HR Practices

Procedures and strategies employed by the Human Resources department to manage, support, and improve the workforce within an organization.

Alignment

The process of adjusting various elements (e.g., strategies, processes) so that they are congruent or in harmony towards achieving a particular goal or objective.

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