You Received a $5,000 Loan at the End of Each

question 11

Multiple Choice

You received a $5,000 loan at the end of each of your four years of college.Your grandparents agreed to pay off your loans at the end of your fourth year of school.Assume a 4% annual compound interest rate on student loans.How much will they have to deposit when you start school so that they will have enough money to pay off your loans after four years? Their interest rate is 6% compounded annually.

• A)$20,000.
• B)$21,235.
• C)$16,818.
• D)$15,000.
• E)none of thesE.

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Definitions:

Thyrohyoid

A muscle in the neck that depresses the hyoid bone and raises the larynx during swallowing and speaking.

Neck

The part of the body connecting the head to the rest of the body, containing structures of the digestive and respiratory tracts as well as major blood vessels and nerves.

Sternocleidomastoid

A muscle in the neck that runs from the sternum and clavicle to the mastoid process of the temporal bone, involved in facilitating rotation and flexion of the neck.

Semispinalis Capitis

is a muscle of the back located beneath the trapezius, playing a key role in extending, rotating, and bending the head backwards.