Use the Data in Table 3

question 30

Multiple Choice

Use the data in table 3.1 to answer the following question(s) :
Table 3.1
-Refer to Table 3.1 above. How much will you need to deposit today to enable you to withdraw $1,000 each year for the next 5 years if the money is invested at 7%?

• A) $1,403
• B) $713
• C) $5,751
• D) $4,100

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Definitions:

Priming

A psychological phenomenon where exposure to one stimulus influences a response to a subsequent stimulus, without conscious guidance or intention.

Initiating

The act of beginning or starting something, such as a plan, process, or action.

Priming

A process in psychology by which exposure to a stimulus influences response to a later stimulus.

Impression

The overall perception or judgment formed about something or someone based on various information sources and interactions.