Mr Fish Wants to Build a House in Ten Years

question 23

Multiple Choice

Mr. Fish wants to build a house in ten years. He estimates that the total cost will be $150,000. If he can put aside $10,000 at the end of each year, what rate of return must he earn in order to have the amount needed?

• A) Between 8% and 10%
• B) Between 6% and 8%
• C) Above 10%
• D) Between 4% and 6%

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Definitions:

Most Challenging

Referring to situations, tasks, or goals that are particularly difficult and require significant effort to overcome.

Least Stressful

Pertaining to situations, environments, or conditions that generate the lowest amount of stress or anxiety.

Absenteeism

The frequent absence from work or other duties without good reason, which can impact productivity and operations.

Honeymoon Effect

A phenomenon where newly-hired employees experience a high level of satisfaction and positivity towards their job, which can temporarily boost their performance.