You Have $602

question 58

Multiple Choice

You have $602.42 today.You want to accumulate $1,320 by investing your money.You have identified an investment that will generate a return of 4% per annum.How long will you have to invest (in years) in order to accumulate your desired total?

• A) 20 years
• B) 17 years
• C) 19 years
• D) 21 years
• E) 22 years

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Definitions:

Reward And Compensation Strategy

A deliberate approach a company takes to outline how employees are compensated and rewarded for their performance, aiming to align employee interests with organizational goals.

Optimal Compensation System

A well-designed compensation framework that aims to align the interests of the employees with those of the organization, while motivating staff and controlling costs.

Organization's Value

The core principles, beliefs, and philosophies that guide a company's operations and define its brand identity.

Costs

The amount of money required for the production, acquisition, or completion of goods or services.