You Want to Have $55,230 at the End of Seven

question 99

Multiple Choice

You want to have $55,230 at the end of seven years.How much do you have to invest today to accumulate that total if you can earn 14% compounded annually?

• A) $22,071.97
• B) $19,361.38
• C) $20,763.00
• D) $22,092.00
• E) $22,074.34

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Definitions:

Total Demand

Represents the entire quantity of a certain product or service that consumers in a market are willing and able to purchase at a given price level.

Market

A physical or virtual space where buyers and sellers interact to exchange goods, services, or information.

Highest Willingness to Pay

The maximum amount an individual is prepared to spend to obtain a good, service, or outcome, reflecting the perceived value.

Consumer

A person or collective that buys products or services for their own consumption.