Using the Time Value of Money Charts Provided, Answer the Following

question 89

Multiple Choice

Using the Time Value of Money charts provided, answer the following question. (Note to Instructors: Provide the appropriate tables to students from Personal Finance, Seventh Edition, Appendix C: Financial Tables.)
Judy would like to have $200,000 saved in her retirement account in 20 years. Assuming an interest rate of 10%, how much should she contribute each year?

• A) $3,491.92
• B) $2,000.00
• C) $2,576.11
• D) $4,376.77

Understand the importance of audience materials like handouts and how to create them.

Employ basic troubleshooting and editing techniques, such as using the BACKSPACE key for corrections.

Grasp the environmental benefits of electronic document management including PowerPoint presentations.

Navigate and use PowerPoint's interface efficiently, including shortcuts and path to specific functionality.

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Definitions:

Sarbanes-Oxley Act

A U.S. federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures.

Corporate Governance

A system of rules, practices, and processes by which a company is directed and controlled, focusing on balancing the interests of stakeholders.

Financial Intermediary

An institution that acts as a middleman between investors and borrowers, facilitating the flow of funds in the financial market.

Real Estate Brokerage

A service involved in arranging the buying, selling or renting out of properties, utilizing agents or brokers to facilitate transactions between buyers and sellers.