Your Rich Uncle Wants to Set Up a Fund That

question 75

Multiple Choice

Your rich uncle wants to set up a fund that allows you to withdraw $12,000 per year for the four years you are at university.The first payment will be made the day you start, followed by three other payments starting one year from then.If interest rates are 4%, the amount your uncle needs to have on hand the day before the first payment is closest to?

• A)$33,301
• B)$43,558
• C)$45,301
• D)$46,080

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Definitions:

Microsystem

A term from ecological systems theory, referring to the immediate environments (like family and school) that directly influence an individual's development.

Kin-time

A concept referring to the time spent with family members or kin, often involving various familial activities and obligations.

Conflict Theorists

Scholars who focus on social, political, or material inequalities of a social group, analyzing the broad socio-political system.

Exchange Theorists

Social scientists who study human interactions and relationships through the lens of costs and benefits, theorizing that individuals seek to maximize rewards and minimize costs in social exchanges.