Solve the Problem

question 21

Multiple Choice

Solve the problem. Solve the problem. -Barbara knows that she will need to buy a new car in 5 years. The car will cost $15,000 by then. How much should she invest now at 4%, compounded quarterly, so that she will have enough to buy a new car? A) $13,585.96 B) $12,293.10 C) $12,822.06 D) $11,854.72
-Barbara knows that she will need to buy a new car in 5 years. The car will cost $15,000 by then. How much should she invest now at 4%, compounded quarterly, so that she will have enough to buy a new car?

Definitions:

American Revolution

The conflict between the thirteen American colonies and British rule that led to the colonies declaring independence and forming the United States of America (1775-1783).

Regulators

Individuals or groups that control, monitor, or maintain the norms in various systems, including financial, environmental, and social domains.

Secure Possession

The legal state or condition of having a firm ownership or control over property or goods, safeguarded against loss, damage, or theft.

Land

The surface of the earth not covered by water, considered as property and factor of production, it also includes natural resources like minerals, forests, and crops.