Jordan Will Need $20,000 at the End of 6 Years

question 57

Multiple Choice

Jordan will need $20,000 at the end of 6 years to put a down payment on a house.What rate of return will he need to earn if he can invest $9,110 today?

• A) 14.0%
• B) 13.0%
• C) 13.5%
• D) 14.5%
• E) 15.0%

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Definitions:

Knowledge Management

The process of creating, sharing, using, and managing the knowledge and information of an organization to enhance its effectiveness.

Digital Information Systems

Platforms and tools that use digital technology to collect, store, manage, and disseminate information, enhancing business operations and decision-making.

Operating Expenses

Expenditures that a business incurs through its normal business operations.

Human Resource Strategy

A plan of action designed to achieve a company's objectives by effectively managing and deploying its human resources.