Sam's Uncle Promised to Give Him $7,000 When He Graduates

question 75

Multiple Choice

Sam's uncle promised to give him $7,000 when he graduates from college three years from now.Assuming an interest rate of 8 percent compounded annually,what is the value of Sam's gift right now?

• A)$5,504.22
• B)$5,510.78
• C)$5,556.83
• D)$5,555.55

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Definitions:

Contacts

The collection of information about individuals or companies stored and managed for communication purposes, often within email or phone applications.

Cards

In a user interface, interactive rectangles or tiles that display information or provide access to additional content or functions.

Contact List

A collection of contact information for individuals or organizations, typically including names, phone numbers, and email addresses.

Meeting

An organized event where two or more people gather, either in person or virtually, to discuss and exchange information or ideas.