You Want to Open a Sushi Bar 3 Years from Now

question 104

Multiple Choice

You want to open a sushi bar 3 years from now, and you plan to save $7,000 per year, beginning immediately.You will make 3 deposits in an account that pays 5.2% interest.Under these assumptions, how much will you have 3 years from today?

• A) $20,993
• B) $22,098
• C) $23,261
• D) $24,424
• E) $25,645

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Definitions:

Phenomenon

An observable event or fact that can be scientifically described or explained.

Interrelated

Elements or factors that are connected to one another in such a way that changes in one may affect the others.

Interdependent

Mutually dependent; the condition in which two or more persons or elements rely on each other for support, functioning, or survival.

Systematic Approach

Involves a structured, methodical process for solving problems or achieving objectives, often based on a step-by-step methodology.