Jenna Would Like to Purchase a New Car in Three

question 122

Multiple Choice

Jenna would like to purchase a new car in three years. If she saves $1000 per year in an account that pays 8% annual interest for the next 3 years, how much will she have saved for a down payment? (Round the final answer to the nearest dollar.) Values for i = 8%, n = 3
$$\begin{array} { | l | r| } \hline \text { Present value of an ordinary annuity of } \$ 1 & 2.577 \\\hline \text { Present value of } \$ 1 \text { : } & .772 \\\hline \text { Future value of an ordinary annuity of } \$ 1 & 3.246 \\\hline \text { Future value of } \$ 1 : & 1.260 \\\hline\end{array}$$

• A) $3246
• B) $3772
• C) $3577
• D) $2577

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Definitions:

Internalize

The psychological process of incorporating the beliefs, attitudes, or standards of others into one's own self-concept.

Middle Childhood Behavior

Patterns of conduct and interaction typically observed in children aged 6 to 12 years, encompassing developmental, social, and cognitive changes.

CSA

Childhood Sexual Abuse; refers to any sexual activity with a child where consent is not or cannot be given.

Counselor

A professional trained to provide guidance and support in resolving personal, social, or psychological challenges.