Assume the Total Expense for Your Current Year in College

question 83

Multiple Choice

Assume the total expense for your current year in college equals $20,000.How much would your parents have needed to invest 21 years ago in an account paying 8% compounded annually to cover this amount?

• A) $952.46
• B) $1,600.00
• C) $1,728.08
• D) $3,973.11

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Definitions:

Painful Menstruation

Discomfort and pain during the menstrual cycle, medically known as dysmenorrhea.

Reflective Thinking

Type of logical thinking that becomes more prominent in adulthood, involving continuous, active evaluation of information and beliefs in the light of evidence and implications.

Deductive Reasoning

A logical process wherein a conclusion is based on the concordance of multiple premises that are generally assumed to be true.

Inductive Reasoning

A logical process in which multiple premises, all believed true or found true most of the time, are combined to obtain a specific conclusion.