Starting One Month from Now,you Would Like to Withdraw $200

question 92

Multiple Choice

Starting one month from now,you would like to withdraw $200 per month from your bank account to pay for your university education.You expect the education (and the withdrawals) to last for the next four years.If the account pays 0.3% interest per month,how much money must you have in your bank account today to support your future needs?

• A) $8,928.37
• B) $7,157.02
• C) $6,711.11
• D) $8,794.50
• E) $7,263.00

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Definitions:

Cooperativeness

A personality trait that reflects an individual's inclination to work together with others towards common goals or objectives.

Assertiveness

The quality of being self-assured and confident without being aggressive, in the expression of one's desires or rights.

Avoiding

A conflict management strategy where individuals ignore or stay away from confrontation.

Problem-Solving

Problem-solving involves identifying, assessing, and resolving issues through logical and creative approaches.