Use the Present Value Formula to Determine the Amount to Be

question 149

Multiple Choice

Use the present value formula to determine the amount to be invested now, or the present value needed.
-The desired accumulated amount is $3800 after 4 years invested in an account with 5% interest Compounded annually.

• A) $3282.58
• B) $673.73
• C) $4618.92
• D) $3126.27

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Definitions:

Schema

According to Piaget, a hypothetical mental structure that permits the classification and organization of new information.

Retrograde Amnesia

A memory disorder where an individual is unable to recall information that was learned or experienced before a specific event or point in time.

Infantile Amnesia

A psychological phenomenon where an individual is unable to recall events from early childhood.

Retrospective Memory

The ability to remember events that have occurred in the past.