If $30000 Is Deposited in a Savings Account at the End

question 68

Multiple Choice

If $30000 is deposited in a savings account at the end of each year and the account pays interest of 5% compounded annually what will be the balance of the account at the end of 10 years?

• A) $48867
• B) $315000
• C) $377337
• D) $450000

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Definitions:

Absolute Need

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Growing Too Fast

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Entrepreneurs Start

The initial phase in which an entrepreneur identifies an opportunity, gathers resources, and launches a new business or venture.

Lean Start-ups

A methodology for developing businesses and products that emphasizes rapid prototyping, a focus on customer feedback, and iterative design, to reduce market risks and costs.