Jane Wants to Set Aside Funds to Take an Around

question 60

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 have to set aside today so that she will have sufficient funds available?

• A) $2,663.
• B) $16,325.
• C) $8,820.
• D) $8,167.

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Definitions:

Exophthalmos

Protrusion of one or both eyeballs, often due to hyperthyroidism, specifically Graves' disease.

Conjunctivitis

Also known as pink eye, it is an inflammation or infection of the outer membrane of the eyeball and the inner eyelid.

Abbreviation

A shortened form of a word or phrase, used to simplify longer terms or phrases.

Soemmering's Ring

A ring of residual lens epithelial cells that can form around the outer edge of a cataract surgery capsule, potentially leading to secondary cataract formation.