What Lump Sum Should Be Deposited in an Account That

question 67

Multiple Choice

What lump sum should be deposited in an account that will earn at an annual rate of 12%, compounded quarterly, to grow to $90,000 for retirement in 15 years?

• A)$87,176.69
• B)$15,010.50
• C)$10,975.61
• D)$32,142.86
• E)$15,275.98

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Definitions:

Lock Screen

The lock screen is a feature found in many operating systems that prevents unauthorized access to a device by requiring a user to perform a specific action to gain access.

Sign-in Screen

The interface that appears at the beginning of the use of an application or device that requires user authentication.

Password Prompt

A security feature that requests the user to enter a password before granting access to a secure system or data.

Similar Interface

A user interface that shares design elements and behaviors with another, making it familiar or easier to use.