You Are Saving Money for a Down Payment on a New

question 71

Multiple Choice

You are saving money for a down payment on a new house.You intend to place $7,500 at the end of each year for three years into an account earning 5% per year.At the end of the fourth year,you will place $10,000 into this account.How much money will be in the account at the end of the fourth year?

• A)$26,873.08
• B)$34,825.94
• C)$37,918.00
• D)$39,000.00

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Definitions:

Business Combination

A transaction or event in which an acquirer gains control over one or more businesses, typically through merger, acquisition, or consolidation.

Fair Value

The price one would receive for offloading an asset or would pay to reassign a liability during a formal transaction with participants in the market at the time of valuation.