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:

Nipple

A small projection from the breast through which milk flows to the outside, and can also refer to a similar projection on other objects.

Mammary Glands

Glandular organs located in the breasts of females that are responsible for the production and secretion of milk.

Prolactin

A hormone produced by the anterior pituitary gland that stimulates milk production after childbirth.

Sperm Cell

A male reproductive cell or gamete involved in sexual reproduction.