Janice Would Like to Send Her Parents on a Cruise

question 36

Multiple Choice

Janice would like to send her parents on a cruise for their 25th wedding anniversary. She has priced the cruise at $15,000, and she has 5 years to accumulate this money. How much must Janice deposit annually in an account paying 10 percent interest in order to have enough money to send her parents on the cruise?

• A) $1,862
• B) $2,457
• C) $3,000
• D) $2,234

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Definitions:

Servings

The recommended portions or amounts of food or drink, as suggested by nutritional guidelines for maintaining a balanced diet.

Unexplained Weight Loss

A significant decrease in body weight that occurs without a clear reason or intentional effort, often indicative of an underlying health issue.

Cancer

A disease characterized by the uncontrolled growth and spread of abnormal cells in the body, potentially leading to death if not treated.

Bulimia

An eating disorder characterized by episodes of binge eating followed by compensatory behaviors such as purging.