(Ignore Income Taxes in This Problem

question 5

Multiple Choice

(Ignore income taxes in this problem.) How much would you have to invest today in the bank at an interest rate of 8% to have an annuity of $4,800 per year for 7 years,with nothing left in the bank at the end of the 7 years? Select the amount below that is closest to your answer.

• A) $33,600
• B) $2,798
• C) $24,989
• D) $31,111

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Definitions:

Antisocial Personalities

A psychological condition characterized by a pervasive pattern of disregard for, or violation of, the rights of others.

Anxiety

A feeling of worry, nervousness, or unease, typically about an imminent event or something with an uncertain outcome.

Remorse

A deep feeling of guilt or regret for one's actions that were wrong or harmful.

Paraphilia

Patterns of sexual attraction to unusual or socially unacceptable objects or practices.