If $5,000 Is Deposited at the End of Each Half

question 7

Multiple Choice

If $5,000 is deposited at the end of each half year in an account that earns an annual rate of 6.0% compounded semiannually, how long will it be before the account contains $145,000? Round your answer to two decimal places. ​

• A)8.88 half years
• B)53.56 half years
• C)45.78 half years
• D)35.67 half years
• E)21.18 half years

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Definitions:

Pharmaceutical Industry

The sector of health care that deals with the development, production, and marketing of drugs and medications.

Emotionality

The quality or state of being emotional; the degree to which someone experiences and expresses emotions.

Negative Emotions

Feelings that are typically experienced as unpleasant, such as sadness, anger, fear, and jealousy.

Optimistic Thinking

A mindset characterized by expecting positive outcomes or focusing on the most hopeful aspects of a situation.