Dr J Wants to Buy a Dell Computer That Will Cost

question 61

Multiple Choice

Dr. J. wants to buy a Dell computer that will cost $3,000 three years from today. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn an 8% annual return. How much should he set aside at the end of each year?

• A) $879
• B) $627
• C) $924
• D) $9,738

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Definitions:

Dominant

Referring to the most powerful, influential, or significant element or gene in a context or system.

Gene

A unit of heredity made up of DNA occupying a fixed position on a chromosome, which is responsible for the inherited characteristics in living organisms.

Psychosocial Crises

Critical stages in an individual's life when they face significant challenges that can impact their psychological and social development.

Erikson

Erik Erikson was a developmental psychologist and psychoanalyst known for his theory on the psychosocial development of humans, distinguishing eight stages that span across an individual's lifetime.