Jane Wants to Set Aside Funds to Take an Around

question 115

Multiple Choice

Jane wants to set aside funds to take an around the world cruise in four years. Jane expects that she will need $12,000 for her dream vacation. If she is able to earn 8% per annum on an investment, how much will she need to set aside at the beginning of each year to accumulate sufficient funds?

• A) $2,663.
• B) $16,325.
• C) $8,820.
• D) $2,466.

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Definitions:

Ideal Self

The conception of oneself as one wishes to be or aspires to be, often involving goals, values, and desired traits.

Self-Image

An individual's perception of themselves, shaped by experiences, beliefs, and feedback from others.

Compensating

Making up for a deficiency or lack in one area by excelling or emphasizing another.

Real Self

An individual's authentic self-concept, based on actual attributes and achievements, as opposed to their idealized view of themselves.