Janice Would Like to Send Her Parents on a Cruise

question 127

Multiple Choice

Janice would like to send her parents on a cruise for their 25th wedding anniversary. She has priced the cruise at $15,000 and she has 5 years to accumulate this money. How much must Janice deposit annually in an account paying 10 percent interest in order to have enough money to send her parents on the cruise?

• A) $2,234
• B) $2,457
• C) $1,862
• D) $3,000

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Definitions:

Legal Documentation

Official records and documents that serve as evidence of legal proceedings, transactions, or certifications.

Health Care Reimbursement

The process by which health care providers receive payment for their services from insurers or patients.

Documentation

The act of recording details and information about a specific situation, process, or patient encounter in a formal and systematic manner.

Clinical Information System

An integrated healthcare information system used in hospitals and clinics to manage patient data, treatments, and healthcare workflows efficiently.