Are Considering an Investment in a Third World Bank Account

question 150

Multiple Choice

are considering an investment in a Third World bank account that pays a nominal annual rate of 18%, compounded monthly.If you invest $5,000 at the beginning of each month, how many months would it take for your account to grow to $250,000? Round fractional months up.

• A)23
• B)27
• C)32
• D)38
• E)44

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Definitions:

Long-Term Technical Norms

Established standards and practices in technology that sustain over an extended period.

Task Support

The assistance or resources provided to help complete a specific task or achieve a goal.

Organizational Culture

The shared values, beliefs, norms, and practices that shape the social and psychological environment of an organization, influencing its members' behavior and attitudes.

External Behavior

Actions or reactions exhibited by an individual that are observable by others, reflecting a response to the surrounding environment.