Steve MacIntosh Would Like to Have $20,000 in 5 Years

question 75

Multiple Choice

Steve MacIntosh would like to have $20,000 in 5 years time to start his own business.The amount that MacIntosh would have to invest today,assuming an interest rate of 8% compounded quarterly,in order to reach his goal is:

• A)$13,612.00
• B)$29,386.00
• C)$79,854.00
• D)$13,459.43

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Definitions:

Visual Sensations

Experiences derived from the stimulation of the eye's photoreceptors by light, leading to the perception of sight.

Eidetic Imagery

The rare ability to recall images, sounds, or objects in memory with extreme precision and vividness, often referred to as photographic memory.

Visual Memories

The aspect of memory involved in the encoding, storage, and retrieval of visual information, enabling recall of faces, places, objects, and experiences.

Implicit Memory

A type of long-term memory that enables us to perform tasks without conscious awareness of these previous experiences.