Charter Has Been Contributing $900 at the End of Each

question 61

Multiple Choice

Charter has been contributing $900 at the end of each month for the past 15 months to a savings plan that earns 4% compounded monthly. What amount will he have one year from now, if he continues with the plan?

• A) $25 382.84
• B) $13 819.60
• C) $6898.05
• D) $12 669.42
• E) $13 500

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Definitions:

Initial Public Offerings

The first sale of stock by a private company to the public, often referred to as going public.

Secondary Market

The secondary market is where previously issued securities and financial instruments, such as stocks and bonds, are bought and sold, unlike the primary market where securities are first issued.

Overpriced

A term used to describe securities or assets that are trading above their intrinsic or fair value.

ECNs

Electronic communication networks that facilitate the buying and selling of securities outside traditional stock exchanges.