Jackie Plans to Open Her Own Bookstore in 10 Years

question 107

Multiple Choice

Jackie plans to open her own bookstore in 10 years. To raise the "seed" money, she has committed the $10,000 she now has in a mutual fund. In addition, she plans to save $2,000 per year (end of year) for the next 5 years and $3,000 per year (end of year) for the following 5 years. How much "seed" money will Jackie have in 10 years if the investments earn 10 percent per year compounded annually?

• A) $76,129
• B) $63,925
• C) $44,255
• D) $159,370

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Definitions:

Assertive

Characterized by confidence and self-assurance in expressing one's opinions and needs directly.

Directive Behaviours

Actions and practices where a leader explicitly guides or directs the activities of others towards set goals or expectations.

Leadership Approaches

Refers to various theories and practices guiding how to effectively manage and lead teams or organizations.

Leadership Success

The effectiveness and positive impact of a leader's actions in guiding and influencing a group towards achieving its goals.