You Will Need to Buy a Replacement Computer, Costing $3

question 10

Multiple Choice

You will need to buy a replacement computer, costing $3 000, in five years time. If you have a bank account which earns 8% annual interest, how much must you put in the bank every year in order to have enough money for the replacement, assuming you make your first deposit in a year's time?

• A)$511
• B)$586
• C)$666
• D)$675
• E)$712

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Definitions:

Birthrates

The number of live births per 1,000 people in a population over a given period of time.

Cohorts

Groups of people banded together or treated as a group, often referred to in research or demographics studies.

Social Security

A government program designed to provide financial assistance to people with little or no income, especially the elderly, disabled, and unemployed.

Social Change

The transformation over time of the institutions, culture, and structure of society.