Your Grandfather Left You an Inheritance That Will Provide an Annual

question 54

Multiple Choice

Your grandfather left you an inheritance that will provide an annual income for the next 10 years. You will receive the first payment one year from now in the amount of $4,000. Every year after that, the payment amount will increase by 6 percent. What is your inheritance worth to you today if you can earn 9.5 percent on your investments?

• A)$31,699.15
• B)$36,666.67
• C)$41,121.21
• D)$43,464.12
• E)$46,908.17

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Definitions:

Stimulus

A change in the environment that influences or causes a response in an organism.

Minimum Intensity

The lowest level of stimulus intensity that is necessary to produce a perceptible sensation or response in the observer.

Backward Messages

A message recorded backward onto a track that is meant to be played forwards; often associated with subliminal or hidden messages in audio recordings.

Rock Records

Hard, solid materials of the earth's surface, containing a record of the planet's geological history.