What Annual Interest Rate Would You Need to Earn If

question 117

Multiple Choice

What annual interest rate would you need to earn if you wanted a $1,250 per month contribution to grow to $65,000 in three years?

• A) 18.59 percent
• B) 21.26 percent
• C) 24.00 percent
• D) 25.19 percent

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Definitions:

Monogamy

A mating system in which an individual has only one mate during a breeding season or for their entire life.

Reproductive Span

The period in an organism's lifespan during which it is capable of reproducing.

Postreproductive Survival

The period of an organism's life after it has completed its reproductive phase, which can have significant evolutionary implications, particularly in social species.

Primates

An order of mammals characterized by large brains, forward-facing eyes, and complex social structures, including humans, monkeys, and apes.