How Much Would Need to Be Contributed Each Year for 30

question 9

Multiple Choice

How much would need to be contributed each year for 30 years to accumulate $1,300,000 assuming a return on the investments of 8%? Round to the nearest dollar if needed.

• A) $43,333
• B) $46,800
• C) $11,476
• D) $15,000

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Definitions:

Reflected

The return of light, heat, sound, or energy from a surface.

Seismic Reflection Survey

A geophysical method for exploring Earth's subsurface by sending seismic waves and analyzing the reflected signals from subsurface structures.

Magnetic Survey

A geophysical method for mapping variations in the Earth's magnetic field, often used in mineral exploration.

Gravity Survey

A geophysical method for measuring variations in the Earth's gravitational field, which can indicate differences in the distribution of densities and hence the structure of the subsurface.