Your Mother Helped You Start Saving $10 a Month Beginning

question 255

Multiple Choice

Your mother helped you start saving $10 a month beginning on your 5^thbirthday, which is on May 1^st. She always made you make your deposit on the first day of each month just to "start the month out right". Today, you turn 21 and have $6,984 in your account. What is the rate of return on your savings?

• A) 13.62%
• B) 13.68%
• C) 13.75%
• D) 13.81%
• E) 13.86%

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Definitions:

Afferent

Refers to the conveyance of sensory information from the peripheral body parts to the central nervous system.

Sensory Neuron

A type of neuron responsible for conveying information from sensory receptors towards the central nervous system.

Motor Neuron

A type of neuron that sends impulses from the brain or spinal cord to a muscle or gland, enabling movement and action.

Nerves

Bundled axons that form neural cables connecting the central nervous system with muscles glands, and sense organs.