You Wish to Accumulate $15,000 Within Five Years

question 99

Multiple Choice

You wish to accumulate $15,000 within five years.How much would you have to save each year for five years to attain your goal? Assume an annual interest rate of 4%.Savings occur at the end of each year.

• A)$2,662
• B)$2,769
• C)$2,905
• D)$3,000
• E)$3,500

---

Definitions:

Unemployed Category

A classification of individuals who are without a job, actively seeking work, and available to take up employment but are unable to find a job.

Unemployment Rate

The proportion of job-seekers in the labor force who do not currently hold employment.

Labor Force

The total number of people who are eligible to work, including both the employed and those seeking employment.

Unemployed Category

A classification for individuals who are able and willing to work but are unable to find employment.