What Lump Sum Should Be Deposited in an Account That

question 178

Multiple Choice

What lump sum should be deposited in an account that will earn at an annual rate of 9%,compounded quarterly,to grow to $150,000 for retirement in 20 years? Round your answer to the nearest cent.

• A) $147,330.10
• B) $18,292.68
• C) $53,571.43
• D) $24,961.93
• E) $25,294.49

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Definitions:

Rituals

Rituals are public practices designed to connect people to the sacred.

Social Inequality

The unequal distribution of resources, opportunities, and rights among different social groups.

Social Cohesion

The bonds or glue that hold a society together, encompassing shared values, identities, and norms that facilitate cooperation among different groups.

Collective Conscience

The set of shared beliefs, ideas, and moral attitudes which operate as a unifying force within a society.