Use the Information for the Question(s)below

question 42

Multiple Choice

Use the information for the question(s) below.
Assume that you are 30 years old today and that you are planning on retirement at age 65.Your current salary is $45,000 and you expect your salary to increase at a rate of 5% per year as long as you work.To save for your retirement,you plan on making annual contributions to a retirement account.Your first contribution will be made on your 31st birthday and will be 8% of this year's salary.Likewise,you expect to deposit 8% of your salary each year until you reach age 65.Assume that the rate of interest is 7%.
-The present value (at age 30) of your retirement savings is closest to:

• A)$87,000.
• B)$108,000.
• C)$46,600.
• D)$75,230.

---

Definitions:

Mechanical Stage Control

A feature on microscopes that allows for precise movement of the specimen slide in the horizontal plane, facilitating detailed examination.

Fine Adjustment Knob

A part of a microscope used to make small adjustments in focus, enhancing the clarity of the image.

Aperture

An opening, hole, or gap, often referring to the variable opening in the lens of a camera through which light passes.

Revolving Nosepiece

A part of a microscope that holds multiple objective lenses and can rotate to change magnification.