If You Want to Have $10 000 for a Down

question 52

Multiple Choice

If you want to have $10 000 for a down payment on a new car in three years' time,assuming an interest rate of 4.5 percent compounded annually,how much money do you need to deposit as a lump sum today?

• A)$8650
• B)$8712
• C)$8112
• D)$8763

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Definitions:

Cytoplasm

The jelly-like substance within a cell, excluding the nucleus, containing organelles and facilitating cellular processes.

Nucleus

A membrane-bound organelle in eukaryotic cells that contains the genetic material.

Proenzyme

An inactive precursor of an enzyme, which requires a biochemical change to become active.

Active Enzyme

An enzyme in a form in which it can catalyze its specific biochemical reaction.