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

---

Definitions:

Center of Personality

The core or essential aspects that define a person's character, often seen as the integration of thoughts, feelings, and behaviors.

Environmental Influences

The various external factors that can impact an individual's behavior, development, and life outcomes, including social, cultural, and physical environments.

Narcissistic Trait

A personality characteristic involving an inflated sense of self-importance, need for admiration, and lack of empathy for others.

Oedipus Complex

The Oedipus complex is a concept in psychoanalytic theory referring to a child's unconscious sexual desire for the opposite-sex parent and jealousy and rivalry toward the same-sex parent.