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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Formally

In accordance with established procedures or protocol, often in an official capacity.

Job Rotation

A practice where employees are moved between different jobs or tasks at a company to gain a variety of skills and reduce monotony.

Capabilities

The qualities, skills, and abilities that enable an individual or organization to perform effectively.

Training Device

Tools or systems used to facilitate learning and skill development in an organizational setting.