Jusef Has Won the $3,800,000 State Lottery and Intends to Save

question 58

Multiple Choice

Jusef has won the $3,800,000 state lottery and intends to save all of the money for his retirement.He chooses to receive an annual cash flow of $190,000 for twenty years,with the first payment to be received one year from today.How much money will be in his retirement account in twenty years if he can reinvest his money at an annual rate of 8.75%?

• A)$9,374,989
• B)$9,451,909
• C)$10,007,801
• D)$3,800,000

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Definitions:

Korotkoff's Sounds

The sounds heard while using a stethoscope during the measurement of blood pressure with a sphygmomanometer, indicating the resumption of blood flow to the artery.

Thumping Sound

usually indicates a repetitive, heavy, striking noise that can be associated with various mechanical or biological rhythms.

Disappearance

The act of someone or something going missing or becoming invisible or unlocatable.

Stepping Reflex

is an automatic movement seen in newborn babies, who appear to take steps when held upright with their feet touching a solid surface, indicating normal neural development.