Rick Decided He Was Tired of Being a Poor College

question 43

Multiple Choice

Rick decided he was tired of being a poor college student when he visited a local electronics store and experienced its finest home theatre system.He determined that he would invest today a portion of the remaining money he earned last summer cleaning animal cages at the veterinary clinic.He plans to invest the money into an international mutual fund for 2.5 years and expects to earn an average annual rate of return of 15%.If Rick wants to have $5,000 in the account at the end of this time,how much must he invest today?

• A)$2,253
• B)$3,048
• C)$3,526
• D)$3,891

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Definitions:

Commerce Clause

A provision in the U.S. Constitution that grants Congress the power to regulate trade between states, with foreign nations, and with Native American tribes.

Concurrent Power

Powers in nations with a federal system of government that are shared by both the federal government and each constituent political unit.

Declare War

The formal action by which a state announces military conflict against another state or group.

Regulate Interstate Commerce

The power of the federal government to oversee and manage trade activities between states, ensuring a smooth and fair exchange of goods and services across state lines.