Wexter and Daughter Invested $165,000 to Help Fund a Company

question 133

Multiple Choice

Wexter and Daughter invested $165,000 to help fund a company expansion project planned for 3 years from now. How much additional money will the firm have saved 3 years from now if it can
Earn 7% rather than 5% on this money?

• A) $7,940.09
• B) $8,218.07
• C) $11,123.97
• D) $12,648.18
• E) $13,211.21

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Definitions:

Subtropics

Geographical zones located directly north and south of the tropics, approximately centered on 30°S and 30°N.

Equator

An imaginary line around the Earth equidistant from the poles, dividing it into northern and southern hemispheres and marking the 0-degree latitude line.

Tropical Rain Forest

A dense, warm, wet forest biome found near the equator, known for its high biodiversity and significant rainfall.

High Annual Rainfall

A climatic condition where a region receives a significantly large amount of precipitation over the course of a year.