David Wishes to Accumulate $1 Million by the End of 20

question 14

Multiple Choice

David wishes to accumulate $1 million by the end of 20 years by making equal annual end-of-yeardeposits over the next 20 years. If David can earn 10 percent on his investments, how much must hedeposit at the end of each year?

• A) $117,453
• B) $14,900
• C) $17,460
• D) $50,000

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Definitions:

Ambidextrous

The ability to use both hands with equal skill for various tasks or activities.

Dominant Side

The side of a person's body that is most used or strongest, often referred to in context of handedness, such as being right or left-handed.

Cerebral Infarction

A type of ischemic stroke caused by a blockage in the blood vessels supplying blood to the brain, leading to brain tissue death.

Spastic Hemiplegia

A form of cerebral palsy that affects one side of the body, characterized by stiff and contracted muscles.