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

---

Definitions:

Jigsaw Technique

A cooperative learning strategy designed to reduce racial conflict among school children, promote better learning, and increase positive educational outcomes by encouraging students to work together to solve puzzles.

Bystander Apathy

The phenomenon where individuals are less likely to offer help to a victim when other people are present.

Prejudice

Preconceived opinion not based on reason or actual experience; bias against a person or group.

Ethnocentrism

The tendency to look at situations from one’s own racial or cultural perspective.