Betty Has Received an Inheritance from Her Uncle

question 67

Multiple Choice

Betty has received an inheritance from her uncle. She would like to invest some of the inheritance to pay for her son's college. To pay for college she will need to withdraw $25,000 per year for 4 years beginning 1 year from today. How much must she invest if she can earn 5%?

• A)$77,397.37
• B)$20,567.50
• C)$31,913.55
• D)$88,648.75

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Definitions:

Acceptance Condition

Criteria required to be met in order for an offer or proposal to be accepted.

Premises

Statements or propositions from which a conclusion is logically derived in an argument.

Healthy Sense Of Skepticism

This entails adopting a questioning attitude towards knowledge, facts, and opinions to discern the truth and avoid being misled.

Claim

Refers to the statement that the maker of the argument is seeking to show to be true or probably true.