Jane Wants to Have $200,000 in an Account in 20

question 60

Multiple Choice

Jane wants to have $200,000 in an account in 20 years. If her account earns 11 percent per annum over the accumulation period, how much must she save per year (end of year) to have the $200,000?

• A) $25,116
• B) $3,115
• C) $10,000
• D) $3,492

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Definitions:

Seeing Stars

A visual phenomenon experienced after being hit on the head or standing up too quickly, typically resulting from changes in blood flow to the brain.

Broca's Area

A region in the frontal lobe of the dominant hemisphere of the brain, associated with speech production and language processing.

Fluent Speech

Fluent Speech refers to the smooth, uninterrupted, and effortless flow of speaking, characterized by an appropriate rate, rhythm, and clarity of articulation.

Frontal Lobe

The part of the brain located at the front of each cerebral hemisphere, associated with higher cognitive functions such as reasoning, planning, problem-solving, and emotional control.