Willis Has Won the $4,700,000 State Lottery and Intends to Save

question 21

Multiple Choice

Willis has won the $4,700,000 state lottery and intends to save all of the money for his retirement.He chooses to receive an annual cash flow of $235,000 for twenty years,with the first payment to be received one year from today.How much money will be in his retirement account in twenty years if he can reinvest his money at an annual rate of 6.75%?

• A)$9,374,989
• B)$17,356,235
• C)$10,007,801
• D)$4,700,000

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Definitions:

Nucleus

Cell organelle containing most of the genetic material of the cell; collection of nerve cell bodies within the central nervous system; center of an atom consisting of protons and neutrons. Plural: Nuclei.

Chromosomes

The structures within cells that hold genes, made up of DNA and protein, and are key to the process of heredity and determining traits.

Organelle

Specialized part of a cell with one or more specific individual functions.

Control Center

In physiology, a system that manages the function of maintaining homeostasis in the body by receiving and processing signals.