You Plan to Invest $2,000 Annually

question 16

Multiple Choice

You plan to invest $2,000 annually. The first $2,000 will be invested on your 22^nd birthday and the last $2,000 will be invested on your 49^th birthday. What is the value of this investment on your 50^th birthday if all invested funds earn 8% annually?

• A)$205,931.87
• B)$190,677.66
• C)$188,677.66
• D)$174,701.54

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Definitions:

Ledbetter V. Goodyear

A U.S. Supreme Court case involving gender pay discrimination, leading to discussions and legal reforms concerning equal pay for women.

Discriminatory Treatment

occurs when individuals or groups are treated unjustly or less favorably than others based on characteristics such as race, gender, age, or religion.

Civil Rights Act

A significant legal measure in the United States that prohibits discrimination on the basis of race, color, religion, sex, or national origin.

Regents of the University of California V. Bakke

A landmark 1978 Supreme Court case that ruled against the use of strict racial quotas in college admissions but upheld the use of race as one factor among many in admissions decisions.