Xiao Xin Is Planning to Accumulate $40,000 by the End

question 66

Multiple Choice

Xiao Xin is planning to accumulate $40,000 by the end of 5 years by making 5 equal annual deposits. If she plans to make her first deposit today and can earn an annual compound rate of 9 percent on her investment, how much must each deposit be in order to accumulate the $40,000?

• A) $ 6,132
• B) $ 6,684
• C) $23,844
• D) $ 9,434

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Definitions:

Managerial Selection

The process of identifying, evaluating, and choosing the most suitable candidates for management positions within an organization.

Conflict Management Skills

The ability to handle and resolve conflicts in a constructive and effective manner.

Communication Skills

The competency to express thoughts, opinions, and information effectively through verbal or written means, facilitating mutual understanding.

Technical Skills

The specific abilities and knowledge necessary to perform specialized tasks in various fields or professions.