You Are Investing a Lump Sum of $7200 with a Goal

question 37

Multiple Choice

You are investing a lump sum of $7200 with a goal of saving $200 000 total in 30 years.What annual interest rate on your investments would you need to reach your goal?

• A)15 percent
• B)11.7 percent
• C)11.3 percent
• D)12.4 percent

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Definitions:

Persuasive Claim

A statement designed to convince or persuade the audience of its validity.

Deductive Approach

A deductive approach refers to a method of reasoning from the general to the specific, where conclusions are logically drawn from premises or known truths.

Persuasive Messages

These are communications designed to influence the attitudes, beliefs, or behaviors of the recipients.

Persuasive Request

A communication strategy aimed at convincing the recipient to agree with or act upon a requester's proposition.