Jerry Wants to Know How Much He Needs to Save

question 35

Multiple Choice

Jerry wants to know how much he needs to save every year to accumulate $15,000 in five years at a 10 percent interest rate.Which of the following tables should he use?

• A)Present value $1
• B)Present value ordinary annuity
• C)Future value $1
• D)Future value ordinary annuity

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Definitions:

Visual Cliff

An experimental apparatus used to test the perception of depth and the development of fear of heights in infants.

Preferential Looking

A research method used in developmental psychology to study infant vision and cognition, based on the premise that infants will look longer at more visually appealing or interesting stimuli.

Visual Acuity

The clarity or sharpness of vision, often measured by the ability to discern letters or numbers at a specific distance.

Adult Levels

Stages or standards of physical, emotional, or intellectual development typically associated with adult maturity.