Future Value: Wes Ottey Would Like to Buy a Condo

question 22

Multiple Choice

Future value: Wes Ottey would like to buy a condo in Florida in six years. He is looking to invest $75,000 today in a stock that is expected to earn a return of 18.3 percent annually. How much will he have at the end of six years? (Round to the nearest dollar.)

• A) $205,575
• B) $157,350
• C) $184,681
• D) None of the above

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Definitions:

Settling Down

The process of adopting a more stable and less erratic lifestyle, often associated with making long-term commitments in personal and professional domains.

Awakened

Refers to the state of being roused from sleep or gaining consciousness, or metaphorically, becoming aware of social or personal issues.

Threatened

A state or condition in which an individual feels at risk of harm or danger.

Intense Anxiety

A heightened state of excessive fear or apprehension, often with physical symptoms, that can significantly impair daily functioning.