Eighteen Years from Now, 4 Years of College Are Expected

question 7

Multiple Choice

Eighteen years from now, 4 years of college are expected to cost $150,000. How much more must be deposited into an account today to fund this expense if you could only earn 8% rather than the 11% you had hoped to earn on your savings?

• A) $12,211.18
• B) $13,609.21
• C) $14,006.41
• D)$14,614.03

Understand the application of quantitative data in biological research.

Grasp the concept of microbial evolution and its implications for human health.

Recognize the principles underlying community and population ecology.

Understand the relevance and application of bacterial DNA research to human genetics and health.

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Definitions:

Production Technique

The method or process used to convert inputs into outputs in manufacturing or service delivery.

Price of Labor

The wages or salary paid to workers for their labor, typically determined by the supply and demand for labor in the market.

Price of Capital

The cost of accessing financial capital, determined by the interest rate or return expected by investors.

Marginal Costs

The cost associated with producing one additional unit of a product or service.