You Wish to Have $100,000 After Ten Years for a Major

question 3

Essay

You wish to have $100,000 after ten years for a major purchase such as a boat. How much must you invest at the end of each year if you earn 8 percent annually on your funds?

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Definitions:

Parasympathetic Nerve Fibers

Components of the autonomic nervous system that help the body to relax and conserve energy, often referred to as the "rest and digest" system.

Nervous System

A complex network of nerves and cells that carry messages to and from the brain and spinal cord to various parts of the body.

Peripheral Nervous

A part of the nervous system consisting of the nerves and ganglia outside of the brain and spinal cord.

Autonomic Nervous

Part of the peripheral nervous system that controls involuntary functions of the body such as heart rate, digestion, and respiratory rate, comprising the sympathetic and parasympathetic nervous systems.