Nu-Tools Plans to Set Aside an Equal Amount of Money

question 30

Multiple Choice

Nu-Tools plans to set aside an equal amount of money each year,starting today,so that it will have $25,000 saved at the end of three years.If the firm can earn 4.7 percent,how much does it have to save annually?

• A)$7,596.61
• B)$7,689.16
• C)$8,004.67
• D)$8,414.14
• E)$8,333.33

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Definitions:

Osteoarthritis

A degenerative joint disease characterized by the breakdown and eventual loss of the cartilage of one or more joints.

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A medical condition where excess body fat accumulates to an extent that it may have a negative effect on health.

Injury

Harm or damage to the body resulting from accidents, falls, hits, weapons, and other causes.

Strength

The ability of muscles to exert force against resistance, important for physical fitness and overall health.