Using the Present Value Long-Hand Method,how Much Money Would Need

question 30

Multiple Choice

Using the present value long-hand method,how much money would need to be deposited to earn $5,000 in five years with a 5% interest rate compounded annually?

• A)$3,917.63
• B)$3,917.00
• C)$3,918.63
• D)$3,918.00

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Definitions:

Hasty Generalization

An error in reasoning where the conclusion isn't supported by enough objective evidence.

Connecting Term

A term used in logic and philosophy that links different parts of a proposition or argument, enhancing coherence and understanding.

Presidents

Elected or appointed heads of state or organizations, responsible for the leadership and decision-making within their jurisdiction or institution.

Inductive Generalization

A type of reasoning that draws general conclusions from specific instances or observations.