You're Trying to Save to Buy a New Car Valued

question 41

Multiple Choice

You're trying to save to buy a new car valued at $48,690.You have $38,000 today that can be invested at your bank.The bank pays 3.7 percent annual interest on its accounts.How long will it be before you have enough to buy the car for cash? Assume the price of the car remains constant.

• A)5.13 years
• B)9.29 years
• C)4.67 years
• D)7.08 years
• E)6.82 years

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Definitions:

Disease

A disorder of structure or function in a human, animal, or plant, especially one that produces specific symptoms.

Injury

Physical harm or damage to the body caused by external force or substance.

Laterality

Refers to the side on which bodily organs or structures are located, distinguished as left or right.

Autonomic Nervous System

The part of the nervous system that controls involuntary bodily functions, such as heart rate, digestion, and respiratory rate, consisting of sympathetic and parasympathetic divisions.