If You Want to Have $10 000 for a Down

question 52

Multiple Choice

If you want to have $10 000 for a down payment on a new car in three years' time,assuming an interest rate of 4.5 percent compounded annually,how much money do you need to deposit as a lump sum today?

• A)$8650
• B)$8712
• C)$8112
• D)$8763

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Definitions:

Late Nineteenth Century

A period from 1870 to 1900 characterized by significant technological, economic, and social changes, including industrialization and the expansion of imperial empires.

Early Twentieth Centuries

Refers to the period from the start of the 1900s to the mid-20th century, a time of significant technological, political, and social changes worldwide.

American Imperialist Attitudes

The mindset or policies favoring the extension of the authority and control of the United States through territorial acquisition or economic and political influence over other nations.

Asia

The world's largest and most populous continent, located primarily in the Eastern and Northern Hemispheres, known for its diverse cultures, languages, and histories.