How Much Would Be in Your Savings Account in 12

question 39

Multiple Choice

How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank pays 5 percent per year.

• A) $2,387.12
• B) $2,491.03
• C) $2,693.78
• D) $2,771.09

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Definitions:

Competitive Advantage

The attribute that allows an organization to outperform its competitors, often due to unique resources, capabilities, or positioning.

Industry

A group of companies producing similar products or services, often categorized by their primary business activities.

Necessary

Essential or needed for a certain purpose.

Market Driven

A business approach focused on creating products and services based on the existing demands and preferences of the market.