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:

Strategic Amnesia

The deliberate or unconscious decision to forget or overlook certain uncomfortable or inconvenient historical facts and events.

White Gaze

The perspective or lens through which white people view individuals of other races, often leading to stereotyping and misinterpretation of non-white experiences.

People Of Color

A term used to collectively describe individuals who are not of White European descent, emphasizing a shared experience of racism and discrimination.

Full, Complex Humans

Recognition of individuals as multifaceted beings with a range of experiences, emotions, and identities, beyond simplistic stereotypes.