Elaine Has Just Received an Insurance Settlement of $25 000

question 42

Multiple Choice

Elaine has just received an insurance settlement of $25 000.She wants to save this money until her daughter goes to university.If she can earn an average of 6.5 per cent,compounded annually,how much will she have saved when her daughter enters university 8 years from now?

• A)$38 000.00
• B)$40 929.02
• C)$41 374.89
• D)$41 899.60
• E)$42 000.00

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Definitions:

Hofstede's Framework

A model that identifies and analyzes six cultural dimensions that distinguish countries and their cultures from one another.

High-context Cultures

Cultures where communication relies heavily on underlying unspoken context, shared traditions, and non-verbal cues.

Low-context Cultures

Cultures that rely heavily on explicit and direct communication, valuing clarity and precision in interaction.

Polychronic Cultures

Societies that multitask and manage multiple activities at once, viewing time as fluid.