Michelle Is Saving for a New Car

question 9

Multiple Choice

Michelle is saving for a new car.She wants to have $25,000 in her account in 3 years.If her account pays 11% interest,how much money will she need to put in her account now,to ensure that she has $25,000 in 3 years?

• A)$18,280
• B)$25,000
• C)$20,000
• D)$18,060
• E)$18,000

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Definitions:

Performance Measurement

The process of quantifying the efficiency and effectiveness of past actions, using various indicators to assess outcomes against set standards or objectives.

Quality

The degree to which a product, service, or process meets or exceeds customer expectations or standards.

Behaviorally Anchored Rating Scale

A method of evaluating employees' performance by directly comparing their behaviors with specific examples of behavior that are anchored on a scale.

Behavioral Observation Scale

A performance appraisal method that rates the frequency of specific behaviors exhibited by an employee in the workplace.