You Want to Buy a New Car in Five Years

question 12

Multiple Choice

You want to buy a new car in five years.You want to have saved $25,000 by then.You can invest $4,000 at the end of each of the next five years at an interest rate of 6% compounded annually.Will you have enough money at the end of the fifth year?

• A)No.You are short $2,452.
• B)Yes.You have $1,532 more than you need.
• C)No.You are short $1,532.
• D)Yes.You have $2,452 more than you neeD.
• E)none of these

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Definitions:

Task Maturity

The level of knowledge, skills, and abilities related to specific tasks, influencing how effectively those tasks are performed.

Skill Set

A collection of skills and abilities that an individual possesses, which can contribute to their performance in various tasks.

Seniority

A system in organizations where longer-serving employees have certain privileges or higher positions compared to newer employees.

Substance Abuse

Substance Abuse involves excessive or harmful use of psychoactive substances, including drugs and alcohol, leading to addiction or other detrimental effects.