Franklin Needs to Have $1,000 in 8 Years

question 59

Multiple Choice

Franklin needs to have $1,000 in 8 years.If his investment earns 5% compounded annually, how much must he invest today to achieve his goal? (Round your answer to two decimals.)

• A)$676.84
• B)$680.58
• C)$1,477.46
• D)$1,469.33

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Definitions:

Physiological Processes

The natural physical and chemical functions or activities within living organisms that support life, such as metabolism, respiration, and reproduction.

Endocrine

Pertaining to glands that release hormones directly into the bloodstream, influencing various bodily functions and processes.

Stress

A factor, whether it's physical, mental, or emotional, that leads to tension in the body or mind.

Psychoneuroimmunology

The study of the interaction between psychological processes and the nervous and immune systems of the human body.