You Want to Have $14,521 at the End of Four

question 2

Multiple Choice

You want to have $14,521 at the end of four years.How much do you have to invest today to accumulate that total if you can earn 6% compounded annually?

• A) $11,501.99
• B) $12,192.11
• C) $11,524.60
• D) $11,287.51
• E) $11,853.46

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Definitions:

Virtual Currencies

Digital or online currencies that use cryptography for security and operate independently of a central bank.

Point-of-sale Terminals

Electronic systems used at retail locations to process card payments and manage sales transactions.

Preauthorized Payments

Financial transactions that are set up in advance to regularly move funds from one account to another, commonly used for recurring bills and subscriptions.

Magnetic Ink Character Recognition

A technology used to verify the legitimacy and facilitate the processing of checks and other documents, employing magnetic ink.