How Much Extra Interest Do You Gain by Starting Today

question 104

Multiple Choice

How much extra interest do you gain by starting today rather than waiting one year if you want to deposit $1710 per year for 28 years? You are able to earn 7.07% compounded annually.

• A) $9689.63
• B) $9896.63
• C) $9869.63
• D) $9889.63
• E) $9999.63

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Definitions:

Fat-Soluble Vitamins

Vitamins that can be stored in the body's fatty tissue and liver, including vitamins A, D, E, and K.

Vegans

Individuals who abstain from consuming animal products and by-products, often for ethical, health, or environmental reasons.

Dietary Protein

Essential macronutrients found in foods, crucial for building and repairing tissues, making enzymes and hormones, and supporting immune function.

Megadoses

Extremely large doses of vitamins or drugs, much higher than the recommended amounts.