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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Definitions:

Centralization

The concentration of decision-making authority at the upper levels of an organization, with lower levels following the directives from above.

Cross-functional Teams

Groups composed of members from different departments or areas of expertise working together towards a common goal.

Formal Leader

An individual who holds an official leadership position or role, typically conferred by organizational authority or hierarchy.

Self-management

The ability to regulate one's own emotions, thoughts, and behaviors effectively in various situations.