Xiao Li Wishes to Accumulate $50,000 by the End of 10

question 84

Multiple Choice

Xiao Li wishes to accumulate $50,000 by the end of 10 years by making equal annual end-of-year deposits over the next 10 years. If Xiao Li can earn 5 percent on her investments, how much must she deposit at the end of each year?

• A) $3,975
• B) $6,475
• C) $5,000
• D) $4,513

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Definitions:

Temporal Bone

A bone situated on the side of the skull, containing the organs of hearing and balance.

Cataract

Complete or partial opacity of the lens of the eye.

Lens of the Eye

A transparent structure behind the iris of the eye that helps to refract light to be focused on the retina.

Acute Central Vision

Acute central vision refers to the component of vision that is responsible for sharp, detailed vision in the direct line of sight.