If Art Wants $35,000 in 10 Years and Can Earn

question 12

Multiple Choice

If Art wants $35,000 in 10 years and can earn a 12% interest rate, how much does he need to invest today?

• A) $10,538
• B) $10,310
• C) $11,270
• D) $14,375

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Definitions:

Glaucoma

Glaucoma is a group of eye conditions that lead to optic nerve damage, often associated with elevated intraocular pressure, and can result in loss of vision if not treated.

Sty

A painful, red lump on the edge of an eyelid caused by an infected oil gland.

Iritis

Irritation of the iris, the part of the eye that has color, resulting in discomfort, sensitivity to light, and issues with sight.

Systemic Absorption

The process by which substances enter the bloodstream and spread throughout the body, which may occur through the skin, lungs, or digestive system.