Milton Desires to Have $6, 442 on Deposit Five Years

question 59

Multiple Choice

Milton desires to have $6, 442 on deposit five years from today.If he has $4, 000 to deposit, what rate of interest, compounded annually, must be obtained to accumulate the desired $6, 442 in five years?

• A)12%
• B)10%
• C)9%
• D)8%

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Definitions:

Gatekeeper

is an individual or group that controls access to something, such as information or resources, often acting as a filter or decision-maker.

Youth Gang

A group of young individuals, often involved in delinquent behavior and existing outside of adult society's norms and laws.

Key Informant

An individual who possesses specialized knowledge, insights, or access to information in a particular area or community.

Sampling Frame

A list or database from which a sample is drawn for research, representing the larger population that is being studied.