Anne Wants to Accumulate $25,000 by December 31, 2019

question 142

Multiple Choice

Anne wants to accumulate $25,000 by December 31, 2019. To accumulate that sum, she will make twelve equal quarterly deposits of $1,616.66 at the end of March, June, September, and December, beginning on March 31, 2016, into a fund that earns interest compounded quarterly. What annual rate of interest must the fund provide to yield the desired sum?

• A) 4.5%
• B) 6.5%
• C) 18%
• D) 26%

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Definitions:

Power Grids

Networks of electrical transmission lines, substations, transformers, and generators that distribute electricity from producers to consumers.

Nuclear Power Plants

Facilities that generate electricity through the controlled nuclear reactions of radioactive materials, such as uranium.

Phishing Attack

A fraudulent attempt to obtain sensitive information by disguising oneself as a trustworthy entity in electronic communication.

Sensitive Information

Data that must be protected from unauthorized access or disclosure, including personal data, financial information, and other types of information classified as confidential.