Jack and Jill Are Saving for a House

question 92

Multiple Choice

Jack and Jill are saving for a house. How much will they have saved if they make 8 deposits of $5,000 each (one at the end of each year) into an account that earns 4% interest compounded annually?

• A)$51,169.86
• B)$63,732.74
• C)$46,071.15
• D)$49,506.11

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Definitions:

Arboreal Life

Existence or lifestyle that is adapted to living in trees, often referring to the habits and habitats of certain animals and plants.

Primatologists

Scientists who study primates, including monkeys, apes, and humans, focusing on their behavior, biology, and evolution.

Field Research

The collection of raw data and information from the natural environment where phenomena occur, as opposed to controlled environments like laboratories.

Nonhuman Primates

Mammals, excluding humans, that belong to the primate order; includes monkeys, apes, and lemurs.