Mr Dubofsky Just Won a "Name That Tune" Contest with a Grand

question 345

Multiple Choice

Mr. Dubofsky just won a "Name That Tune" contest with a grand prize of $250,001. However, the contest stipulates that the winner will receive $100,000 immediately, and $15,000 at the end of
Each of the next 10 years. Assuming that he can earn 5% on his money, how much has he actually
Won?

• A) $92,156.46
• B) $98,225.11
• C) $115,826.02
• D) $215,826.02
• E) $250,000.00

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Definitions:

Meeting

A gathering of two or more people that is convened for the purpose of achieving a common goal through verbal interaction, such as sharing information or reaching agreement.

Agenda Items

The topics or issues that are listed to be discussed, decided upon, or acted upon in a meeting or gathering.

Summarize

To give a brief statement of the main points of something.

Problem-solving Process

A structured approach to identifying, analyzing, and resolving issues through a series of steps or stages.