How Much Would Kristen Have to Deposit in the Bank

question 145

Multiple Choice

How much would Kristen have to deposit in the bank at the end of each of the next five years if she wishes to have $5,000 in the bank at the end of that time period,assuming she will be earning 6% annual rate of return? (Round to the nearest dollar) .

• A)$887
• B)$943
• C)$1,000
• D)$1,187

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Definitions:

Japanese Culture

The unique set of traditions, arts, and social customs found in Japan, shaped by a long history and characterized by distinct practices such as tea ceremonies, sumo wrestling, and ikebana.

American Culture

encompasses the customs, traditions, arts, history, and social norms prevalent in the United States.

Civilized Society

A concept that denotes a society which is considered advanced in terms of cultural, material, and institutional development.

American Politics

The political structure and processes in the United States, encompassing the functioning of its government, political parties, and electoral systems.