You Just Won a Lottery-CONGRATULATIONS! Your Parents Have Always Told

question 24

Multiple Choice

You just won a lottery-CONGRATULATIONS! Your parents have always told you to plan for the future,so since you already have a well-paying job you decide to invest rather than spend your lottery winnings.The payment schedule from the lottery commission is $100,000 after taxes at the end of year one and 19 more payments of exactly $100,000 after taxes in equal annual end-of-the-year deposits (i.e. ,20 deposits of $100,000 each,the first deposit is one year from today) into your account paying 7% compounded annually.How much money will be in your account after the last deposit is made?

• A)$2,000,000.00
• B)$3,637,896.48
• C)$4,099,549.23
• D)$4,486,517.68

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Definitions:

Minor Surgical Procedure

A medical intervention that is less invasive, often performed on an outpatient basis and requires minimal recovery time.

Sterile Scrub Assistant

An assistant who handles sterile equipment during a surgical procedure.

Passing Instruments

A procedural task in healthcare, where tools are handed to a surgeon or another medical professional during a procedure.

Sterilization Indicator

A device or chemical used to verify the effectiveness of sterilization processes, including heat or chemical sterilization.