You Want to Quit Your Job and Return to School

question 159

Multiple Choice

You want to quit your job and return to school for an MBA degree 3 years from now,and you plan to save $2,800 per year,beginning immediately.You will make 3 deposits in an account that pays 5.2% interest.Under these assumptions,how much will you have 3 years from today?

• A) $9,304.28
• B) $7,908.64
• C) $9,025.15
• D) $10,420.79
• E) $7,722.55

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Definitions:

Value-based Pricing

Pricing strategy that sets product prices based on the perceived value to the customer rather than based on the cost of the product or historical prices.

Injection Mold

A manufacturing process used to create parts by injecting molten material into a mold.

Operating Cost

Refers to the total expense associated with running a business's core operations on a day-to-day basis, excluding financing and investment costs.

Useful Life

The expected period of time during which an asset remains functional and economically viable for its intended use.