Solve the Problem

question 83

Multiple Choice

Solve the problem. Round to the nearest cent as needed.
-Cara knows that she will need to buy a new car in 3 years. The car will cost $15,000 by then. How much should she invest now at 12%, compounded quarterly, so that she will have enough to buy a new car?

• A) $10,520.70
• B) $12.594.29
• C) $11,957.91
• D) $9532.77

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Definitions:

Energy

The capacity to do work or produce change, existing in various forms such as kinetic, potential, thermal, electrical, chemical, and nuclear.

Average House Price

This term refers to the mean price of houses within a given area, calculated over a specified period of time.

Vancouver Real Estate

The market segment dealing with the buying, selling, and renting of properties in Vancouver, Canada.

List Price

The manufacturer’s suggested retail price (MSRP) for a product, often before any discounts or negotiations.