Assume that Adrian will need $30,000 for his 20 percent down payment in five years. If he locates an investment with a 9 percent rate of return that compounds annually, which of the following is closest to the amount that he will have to save each year?

A) $6,003
B) $4,884
C) $5,187
D) $5,013

Answer: D

Business

You might also like to view...

When you ________, always use quotation marks

A) indirectly quote B) directly quote C) paraphrase

Business

Which of the following is the focus of push marketing at the decline stage of the product life

cycle? A) exhibition of product superiority over competitors' offerings B) payment of a minimal fee to retailers to include the product in their store C) product demonstration by company representatives at retailer stores D) familiarization of consumers with product functionality

Business