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:

Mitochondria

Mitochondria are organelles within cells that are responsible for producing adenosine triphosphate (ATP), the cell's main energy carrier, through the process of oxidative phosphorylation.

ATP

Adenosine triphosphate, a molecule that carries energy within cells for metabolism.

Mitochondria

Organelles found in the cytoplasm of eukaryotic cells, involved in producing energy through the process of cellular respiration.

Peroxisomes

Organelles found in virtually all eukaryotic cells that are involved in the catabolism of very long-chain fatty acids, branched-chain fatty acids, D-amino acids, polyamines, and the reduction of reactive oxygen species - specifically hydrogen peroxide.