Your Goal Is to Be Able to Withdraw $10,000 for Each

question 68

Multiple Choice

Your goal is to be able to withdraw $10,000 for each of the next nine years beginning one year from today and also to withdraw $50,000 ten years from today. The return on the investment is expected to be 6%. The amount that needs to be invested today is closest to:

• A)$68,017.
• B)$95,937.
• C)$78,176.
• D)$132,075.

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Definitions:

Fossil

Physical evidence of an organism that lived in the ancient past.

Cambrian Period

A geological era around 541 million years ago, marked by a rapid diversification of life forms and the appearance of most major groups of animals in the fossil record.

Great Chain of Being

A hierarchical structure of all matter and life, believed in medieval Christianity to have been decreed by God.

No Apparent Function

Describes aspects of organisms that do not show a clear purpose or role.