Present Value of 1 Future Value of 1

question 61

Multiple Choice

Present Value of 1 Future Value of 1 Present Value of an Annuity of 1 Future Value of an Annuity of 1 Clara is setting up a retirement fund, and she plans on depositing $5,000 per year in an investment that will pay 7% annual interest. How long will it take her to reach her retirement goal of $69,082?

• A)13.816 years
• B)0.072 years
• C)10 years
• D)20 years
• E)5 years

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Definitions:

Tinker Creek

A stream in Virginia, notably written about by Annie Dillard in her work "Pilgrim at Tinker Creek," exploring nature and life.

Shade Trees

Large trees planted specifically to provide shade and reduce heat in surrounding areas, often enhancing comfort and energy efficiency.

Sand Dunes

Natural accumulations of sand typically found in deserts and on beaches, shaped by the wind or water flow.

Vegetable Beds

Designated areas in a garden where vegetables are planted and grown.