You Want to Have $100,000 in Five Years

question 122

Multiple Choice

You want to have $100,000 in five years.If the interest rate is 8 percent,about how much do you need to have today?

• A)$66,225.25
• B)$67,556.42
• C)$68,058.32
• D)$71,428.57

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Definitions:

Horizontal Syncline

A fold in sedimentary rock layers where the youngest materials are located at the center of the fold, typically indicating compression.

Dip-Slip Fault

A type of fault where the movement is mainly vertical, caused by the two sides moving up or down relative to each other.

Strike-Slip Fault

A type of fault where two blocks of the Earth's crust move horizontally past each other, parallel to the fault plane.

Normal Fault

A type of fault where the hanging wall slides downward relative to the footwall due to tensional forces.