You Need $15,400 in Three Years

question 76

Multiple Choice

You need $15,400 in three years. How much do you need to deposit today to fund this need if you can earn 5 percent per year, compounded continuously? Assume this is the only deposit you make.

• A) $13,506
• B) $13,049
• C) $14,179
• D) $13,255
• E) $12,916

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Definitions:

Early Adulthood

The period in a person's life typically ranging from the ages of 20 to 40, where many experience personal and professional growth.

Polygenetic

Involving or determined by multiple genes, often relating to the complex traits and variations in organisms.

DNA Segments

Portions of the DNA molecule that carry genetic information; these can encode genes, regulate gene expression, or have structural or unknown functions.

Family-Environment Effect

The impact of the familial setting on an individual's development, behaviors, values, and beliefs, emphasizing the role of upbringing.