Assume the Total Expense for Your Current Year in College

question 17

Multiple Choice

Assume the total expense for your current year in college equals $20,000.Approximately how much would your parents have needed to invest 21 years ago in an account paying 8% compounded annually to cover this amount?

• A) $952.00
• B) $1,600.00
• C) $1,728.00
• D) $3,973.00

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Definitions:

Humans

Members of the species Homo sapiens, characterized by their ability to create complex language, culture, and utilize advanced tools.

Sounds

Oscillations that pass through air or a different medium and are perceived when they make contact with an individual's or creature's ear.

Basic Tastes

The human tongue's primary taste sensations which include sweet, sour, salty, bitter, and umami.

Citrus

Citrus refers to a genus of flowering trees and shrubs that produce fruit with a high vitamin C content, such as lemons, limes, oranges, and grapefruits.