John and Rosamond Want to Retire in 6 Years and Can

question 47

Multiple Choice

John and Rosamond want to retire in 6 years and can save $190 every three months. They plan to deposit the money at the end of each quarter into an account paying 6.48% compounded quarterly. How much will they have at the end of 6 years? ​

• A) $5,519.62
• B) $4,951.94
• C) $4,126.48
• D) $4,141.21
• E) $6,545.91

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Definitions:

Political Rights

Rights that allow individuals to participate in the political process, including voting, running for office, and engaging in political discourse.

Blacks

A term referring to individuals of Sub-Saharan African descent, often used within the context of discussions on race and ethnicity.

Sherman's Neckties

A term referring to the practice by Union General William Tecumseh Sherman during the American Civil War of destroying Confederate railroad tracks by heating and then bending them.

Railroad Ties

Heavy beams used as a base for railroad tracks to hold them in place and ensure the tracks remain aligned.