It Is January 1st and Jeff Davis Has Just Established

question 69

Multiple Choice

It is January 1st and Jeff Davis has just established a Superannuation account.Jeff will put $1,000 into the account on December 31st of this year and at the end of each year for the following 39 years (40 years total) .How much money will Jeff have in his account at the beginning of the 41st year? Assume that the account pays 12% interest compounded annually,and round to the nearest $1,000.

• A)$93,000
• B)$766,000
• C)$767,000
• D)$850,000

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Unlikely To Achieve

A phrase indicating a low probability of accomplishing a specified goal or task.

Sociobiology

The study of the biological aspects of social behavior in animals and humans, emphasizing the role of evolutionary processes in shaping social structures and interactions.

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