You Are to Receive $16 700 from Your Trust Fund

question 1

Multiple Choice

You are to receive $16 700 from your trust fund in 7.5 years. You negotiate a deal where you can withdraw $350 per month starting 2.75 years before you can withdraw the remainder of the funds. You are able earn 4.18% compounded annually on your money. How much is your trust fund reduced to?

• A) $4195.40
• B) $4159.40
• C) $4459.40
• D) $4495.40
• E) $4155.40

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Definitions:

pH

A numeric scale used to specify the acidity or basicity of an aqueous solution, ranging from 0 to 14.

Strong Acids

Acids that completely dissociate into their ions in water, significantly increasing the concentration of hydrogen ions in a solution.

Reduced

Reduced typically refers to a chemical reaction in which atoms gain electrons, or in a broader sense, the diminishment in size, amount, or intensity of something.

Acid

Substances that release hydrogen ions (H+) when dissolved in water, characterized by their sour taste and the ability to turn litmus paper red.