Solve the Problem. -Cindy Will Require $18,000 in 2 Years to Return to to Return

question 165

Multiple Choice

Solve the problem.
-Cindy will require $18,000 in 2 years to return to college to get an MBA degree. How much money should she ask her parents for now so that, if she invests it at 11% compounded continuously, she will have
Enough for school? (Round your answer to the nearest dollar.)

• A)$14,445
• B)$14,609
• C)$22,429
• D)$11,593

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Definitions:

Execution

The act of carrying out a plan, order, or course of action; in a legal context, it refers to the carrying out of a death sentence.

Republicanism

A political ideology centered around the concept of a republic, where the government's authority comes from the people and is exercised by elected representatives.

Slavery

A system in which individuals are owned by others, deprived of personal freedom and compelled to perform labor or services without the right to refuse.

Trading Rights

Legal permissions or entitlements to conduct trade within specific markets or territories, often regulated by treaties or laws.