Timed Test This test has a time limit of 2 hours and 30 minutes This test will s

Question

Timed Test This test has a time limit of 2 hours and 30 minutes This test will save and submit automatically when the time expires Wamings appear when half the time, 5 minutes, 1 minute, and 30 seconds remain. Multiple Attempts Not allowed. This test can only be taken once. Force Completion Once started, this test must be completed in one sitting Do not leave the test before clicking Save and Submit This test does not allow backtracking Changes to the answer after submission are prohibited Remaining Time: 1 hour, 39 minutes, 14 seconds. Question Completion Status Moving to the next question prevents changes to this answer Queston 4 of 10 estion 4 10 points Save Answe You just inherited $10,000. While you plan to squander sonne of t away, how much should you deposit the account in 10 years? an account ea ng 4% nteres per yeard youa ike t haves o n Question 4 of 10 Moving to the next question prevents changes to this answer O Type here to search F9 F10 F11 12 F6 F8 F5 7 8 0 6

Explanation / Answer

FV = $ 10000

n = 10 years and i = 4%

PV = FV/(1 + i)n

PV = $ 6755.64 (amount that should be invested)

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