Twenty Years from Now, You Want to Spend $175,000 for a Fancy

question 27

Multiple Choice

Twenty years from now, you want to spend $175,000 for a fancy car. How much must you deposit as a lump sum today to achieve this goal at an annual interest rate of 6.6 percent?

• A) $54,208.16
• B) $48,740.95
• C) $57,911.08
• D) $40,019.82
• E) $51,446.60

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Definitions:

Natural Selection

The process by which traits become more or less common in a population due to consistent effects upon the survival or reproduction of their bearers.

Fear Strangers

is an instinctual response often observed in infants and animals, where they exhibit fear or anxiety towards unfamiliar individuals.

Evolutionary Psychologist

A professional who studies the role of evolutionary processes in shaping the human mind and behavior.

Hereditary Influences

Genetic factors passed down from parents to offspring that impact various aspects of physical and psychological traits.