You Just Graduated and You Expect to Work for Ten

question 58

Multiple Choice

You just graduated and you expect to work for ten years and then to leave for the Australian "Outback" bush country.You figure you can save $1,000 a year for the first five years and $2,000 a year for the next five years.These savings cash flows will start one year from now.In addition,your family has just given you a $5,000 graduation gift.If you put the gift now and your future savings when they start,into an account that pays 8% compounded annually,what will your financial "stake" be when you leave for Australia 10 years from now.(Round to the nearest whole dollar)

• A) $21,432
• B) $28,393
• C) $16,651
• D) $31,148
• E) $20,000

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Definitions:

Tuskegee Syphilis Study

An unethical natural history study in which the treatment for syphilis was deliberately withheld from African-American men who were infected with the disease, to study its progression.

Ethical Guidelines

Rules and standards designed to guide behavior in a morally right direction, especially in professional settings or research.

Fully Informed Consent

Fully informed consent is a process by which individuals are given comprehensive information regarding a medical treatment, procedure, or research participation, ensuring they understand and voluntarily agree to it.

Voluntary Consent

The agreement to participate in an activity, such as a medical treatment or experiment, given freely and with full understanding of the implications, risks, and benefits involved.