You Are Scheduled to Receive $30,000 in Two Years

question 46

Multiple Choice

You are scheduled to receive $30,000 in two years.When you receive it,you will invest it for 5 more years,at 6 percent per year.How much money will you have 7 years from now?

• A)$38,909.19
• B)$39,381.16
• C)$40,146.77
• D)$47,209.19
• E)$51,414.73

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Definitions:

Farms

Land devoted to agriculture for the primary purpose of producing food and other crops; it is the basic unit in food production.

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people through factors like industrial growth and education.

Wheat

Wheat is a cereal grain considered a staple food globally, used for making products like bread, pasta, and other foods due to its high gluten content.

Corn

A cereal grain which is a staple food in many parts of the world, also known as maize.