What Annual Interest Rate Would You Need to Earn If

question 21

Multiple Choice

What annual interest rate would you need to earn if you wanted a $200 per month contribution to grow to $14,700 in five years?

• A) 6.47 percent
• B) 7.76 percent
• C) 8.01 percent
• D) 14.70 percent

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Definitions:

Digital Certificate

An electronic document used to prove the ownership of a public key; it includes the certificate holder's name, a serial number, expiration dates, a copy of the certificate holder's public key, and the digital signature of the certificate-issuing authority.

Rental Lease

A legal agreement between a landlord and tenant for the rental of property for a specified period of time.

Surge

A sudden increase or spike, often referring to electrical power, demand, or other measurable phenomena.

Blackout

Blackout means a temporary loss of electricity or the intentional suppression of information or broadcasting.