Future Value: Ning Gao Is Planning to Buy a House

question 59

Multiple Choice

Future value: Ning Gao is planning to buy a house in five years. She is looking to invest $25,000 today in an index managed fund that will provide her a return of 12 percent annually. How much will she have at the end of five years? (Round to the nearest dollar.)

• A) $45,000
• B) $39,338
• C) $44,059
• D) $40,000

---

Definitions:

Federal and Provincial Jurisdictions

The division of governancal responsibilities between federal and provincial governments, specific to federated states.

Administer

To manage, direct, or oversee the operation or distribution of services, programs, or resources.

Public Service

Employment within governmental agencies or departments aimed at serving the interests and needs of the public.

Arbitrators

Professionals who resolve disputes between parties by making decisions that are usually binding, often used in labor, commercial, and legal disagreements.