Then They Plan to Make 3 Equal Annual Contributions in Each

question 58

Multiple Choice

Then they plan to make 3 equal annual contributions in each of the following years, t = 5, 6, and 7. They expect their investment account to earn 9%. How large must the annual payments at t = 5, 6, and 7 be to cover Ellen's anticipated college costs?

• A) $1,965.21
• B) $2,068.64
• C) $2,177.51
• D) $2,292.12
• E) $2,412.76

---

Definitions:

Hyperactivity

An abnormally high level of activity or restlessness, often associated with attention deficit hyperactivity disorder (ADHD).

Quality of Hire

A metric used to evaluate the effectiveness of the recruitment process, measuring the value new employees bring to an organization.

Organizational Culture

The shared values, beliefs, and norms that influence the behavior and practices of an organization's members.

Employee Referral

A recommendation made by an existing employee of an organization for a potential candidate for employment, often part of a company's hiring strategy.