Starting in 5 Years and 6 Months You Want to Be

question 84

Multiple Choice

Starting in 5 years and 6 months you want to be able to withdraw $950 every three months for 3 years and 3 months. You want to deposit a single amount immediately and then let it grow at a rate of 7.24% compounded quarterly. How much interest did you earn during the entire period of time?

• A) $2090.47
• B) $2099.47
• C) $4589.47
• D) $4859.47
• E) $4888.47

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Definitions:

Influencers

Individuals who have the power to affect the purchase decisions of others because of their authority, knowledge, position, or relationship with their audience.

Specifications

Detailed descriptions of the design, materials, and requirements for a project or product.

Buying Center

A group of individuals within an organization who participate in the decision-making process for purchasing goods or services.

Buyer

An individual or organization that purchases goods or services for personal use or for incorporation into products or services they provide.