Lisa Wants to Know How Much Savings She Would Accumulate

question 54

Multiple Choice

Lisa wants to know how much savings she would accumulate in 15 years if she saves $2,000 per year and her savings earns 4% per year. She needs to determine the

• A) present value of an annuity.
• B) annuity amount.
• C) future value of one specific dollar amount today.
• D) future value of an annuity.

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Definitions:

Ethical Life

A way of living that consistently reflects one's moral values and ethical principles.

Quality of Arguments

The degree to which arguments are logical, coherent, comprehensible, and convincingly supported by evidence.

Evaluation

Assesses the credibility of statements or other representations that are accounts or descriptions of a person’s perception, experience, situation, judgment, belief, or opinion; also assesses the logical strength of the actual or intended inferential relationships among statements, descriptions, questions, or other forms of representation.