You Are Considering Investing in a Bank Account That Pays

question 11

Multiple Choice

You are considering investing in a bank account that pays a nominal annual rate of 6%, compounded monthly. If you invest $5,000 at the END of each month, how many months will it take for your account to grow to $200,000? Round fractional years up.

• A) 33
• B) 37
• C) 41
• D) 45

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Definitions:

Artificial Intelligence (AI)

A scientific field that focuses on creating machines capable of performing activities that require intelligence when they are done by people.

Evaluate Solutions

The process of assessing various options or answers to determine their effectiveness in solving a problem.

Frame Problems

In artificial intelligence, refers to the difficulty of specifying all the possible conditions and rules for a robot or a program to function correctly in a dynamic world.

Prototype

An original model or form which other objects, systems, or concepts are based on or derived from.