Sandy Wants to Know How Much She Needs to Save

question 81

Multiple Choice

Sandy wants to know how much she needs to save today to have $5,000 in five years at a 7% interest rate. How much should she invest today?

• A) $3500
• B) $3946
• C) $3565
• D) Not enough information is provided.

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Definitions:

Tolerance

The capacity of an organism to endure exposure to a particular substance or environmental condition without adverse effects.

Hemlock

A type of plant belonging to the family Apiaceae, some species of which are toxic, and others, such as the trees in the genus Tsuga, are valuable timber resources.

Pine Cones

The seed-bearing structures of pine trees, which play a crucial role in the reproductive process of these plants.

Primary Succession

is the process of ecosystem development or recovery on a site where no biological community previously existed, such as on bare rock or lava flows.