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:

Joint Ventures

Business arrangements where two or more parties agree to pool their resources for the purpose of accomplishing a specific task, project, or business activity.

Cross-Border Mergers

Transactions whereby companies from different countries combine their operations or assets, often to expand market reach, diversify, or achieve competitive advantages.

Entrepreneurship

The process of designing, launching, and running a new business, often characterized by innovation and risk-taking.

Chinese Business Culture

A unique set of traditions and practices that influence how business is conducted in China, emphasizing relationships, respect, and hierarchy.