Approximately How Much Money Do You Need Today to Ensure

question 64

Multiple Choice

Approximately how much money do you need today to ensure that you will have $12,000 in 3 years, assuming you can earn 4% on your savings?

• A) $10,668.
• B) $11,224.
• C) $11,668.
• D) $12,668.

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Definitions:

Water

A transparent, tasteless, odorless, and nearly colorless chemical substance, which is the main constituent of Earth's hydrosphere and the fluids of all known living organisms.

Ribulose Bisphosphate (RuBP)

A five-carbon sugar involved in the carbon fixation process of photosynthesis, acting as a substrate for the enzyme RuBisCO.

Rubisco

An enzyme involved in the first major step of carbon fixation in the process of photosynthesis, catalyzing the reaction between carbon dioxide and ribulose bisphosphate.