Anthony Would Like to Have $18,000 to Buy a New

question 71

Short Answer

Anthony would like to have $18,000 to buy a new car in three years.Currently,he has saved $15,000.If he puts $15,000 in an account that earns 6% interest,compounded annually,will he be able to buy the car in three years?

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Definitions:

Delegable

Capable of being assigned or transferred to another party for completion or execution.

Prohibited by Statute

Activities or actions that are explicitly forbidden by law or statutory regulation.

Improper Financial Motive

involves pursuing financial gain in unethical or illegal ways, often compromising moral or regulatory standards.

Beneficiary's Rights

The entitlements or claims a beneficiary has by law or under the terms of a contract, such as a will or insurance policy.