Harry Decided He Was Tired of Being a Poor College

question 111

Multiple Choice

Harry decided he was tired of being a poor college student when he visited a local electronics store and experienced its finest home theatre system.He determined that he would invest today a portion of the remaining money he earned last summer cleaning animal cages at the veterinary clinic.He plans to invest the money into an international mutual fund for 3.5 years and expects to earn an average annual rate of return of 15%.If Harry wants to have $4,000 in the account at the end of this time,how much must he invest today?

• A)$1,253
• B)$2,048
• C)$2,453
• D)$2,591

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Definitions:

Radio Advertising

A marketing strategy that uses radio broadcasts to reach a wide audience, promoting products, services, or events through audio advertisements.

Rating

An assessment or evaluation, often in the form of a numerical score or classification, indicating the quality, performance, or other characteristics of something.

Television Show

A content program broadcasted over television networks or streamed online, intended for entertainment, education, or information dissemination to viewers.

Rating

An evaluation or assessment system used to classify or rank something or someone based on quality, performance, or satisfaction criteria.