You Will Receive $4,000 at Graduation 3 Years from Now

question 34

Multiple Choice

You will receive $4,000 at graduation 3 years from now. You plan on investing this money at 5 percent annual interest until you have accumulated $50,000. How many years from today will it be when this occurs?

• A) 51.42 years
• B) 49.08 years
• C) 54.77 years
• D) 48.42 years
• E) 51.77 years

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Definitions:

Leadership Executive Training

Specialized programs designed to enhance the leadership skills and strategic thinking of senior executives and leaders.

Quality Management Analyst

A professional who assesses and analyzes the quality management systems of an organization to ensure compliance with standards and to identify opportunities for improvement.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, resulting in a decreased cost per unit.

Long-run Average Total Cost

The long-run average total cost is the per-unit cost of production when all inputs can be adjusted, reflecting the most cost-efficient scale of operation.