A Small Business Owner Contributes $2,000 at the End of Each

question 5

Multiple Choice

A small business owner contributes $2,000 at the end of each quarter to a retirement account that earns an annual rate of 6.5% compounded quarterly. How long will it be until the account is worth $250,000? Round your answer to the nearest whole number. ​

• A)69 quarters
• B)101 quarters
• C)122 quarters
• D)137 quarters
• E)43 quarters

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Definitions:

Inventory Low

A situation in which stock levels of products are critically reduced, posing a risk of stockouts and potential lost sales.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, typically identified as product, price, place, and promotion.

Energy Exploration

The process of searching for natural resources, such as oil, gas, and minerals, necessary for energy production.

Refineries

Industrial plants where raw materials, particularly crude oil and other feedstocks, are processed and transformed into useful products like gasoline and diesel.