Assume That You Invest $750 at the End of Each

question 24

Multiple Choice

Assume that you invest $750 at the end of each quarter for the next 20 years in a mutual fund.The annual rate of interest that you expect to earn in this account is 5.25%.The amount in the account at the end of 20 years is

• A) $60,000.00
• B) $105,039.84
• C) $37,009.35
• D) $123,510.52
• E) $115,637.37

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Definitions:

Adulthood

A life stage characterized by full physical development, legal responsibility for oneself, and typically involving greater social and economic independence.

Extraverted

Characterized by outgoing, sociable, and energetic behavior towards the external environment.

Agreeable

A personality trait characterized by warmth, friendliness, and a cooperative attitude.

Generativity

A psychological stage proposed by Erik Erikson that focuses on the concern for establishing and guiding the next generation, often achieved through parenting, mentorship, or creation of lasting works.