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:

Categorical Proposition

A statement that asserts or denies something about all members of a category, typically structured in standard forms (A, E, I, O).

Declarative English Sentences

Statements in English that express an assertion, question, or request, typically having a subject followed by a predicate.

Explicit Subjects

Subjects that are clearly and directly expressed or stated in a sentence or argument.

Copula

The part of a proposition that links the subject to the predicate, commonly found in the form of "is" or "are".