You Will Need Three Amounts of $14 200 in Each

question 128

Multiple Choice

You will need three amounts of $14 200 in each year for four years in order to go to school. You are planning on going to school starting in 5 years and ending in 8 years (years 5, 6, 7, 8) . You are able to earn 9.64% compounded quarterly. How much money do you have to have today in order to be able to go to school?

• A) $30 574.35
• B) $30 457.35
• C) $30 754.35
• D) $30 475.34
• E) $33 354.35

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Definitions:

Oral Stage

In psychoanalytic theory, the first stage of psychosexual development, where a child's pleasure centers around the mouth.

Psychosexual Development

Psychosexual Development is a Freudian theory that proposes individuals pass through a series of stages from childhood to adulthood, where pleasure focuses on different parts of the body.

Superego

The superego is a component of Sigmund Freud's psychoanalytic theory, acting as the ethical component of the personality and providing moral standards by which the ego operates.

Id

In Freudian psychology, the part of the mind that is the source of instinctual impulses and demands for immediate satisfaction of basic needs.