Answer the Question. -Stephen Sets Up an IRA with an APR of 5

question 162

Multiple Choice

Answer the question.
-Stephen sets up an IRA with an APR of 5% at age 26. At the end of each month, he deposits $56 in the account. How much will the IRA contain when he reaches 65? Compare that amount to the
Total amount of deposits made over the time period.

• A)$80,643.63; this is $54,435.63 more than the total amount of the deposits.
• B)$1534.42; this is $78.42 more than the total amount of the deposits.
• C)$57,471.98; this is $35,071.98 more than the total amount of the deposits.
• D)$57,716.09; this is $43,653.29 more than the total amount of the deposits.

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Definitions:

Immunologic Reactivity

The ability of the immune system to respond to and recognize antigens, leading to an immune response.

Allergy

A hypersensitive immune response to certain substances, known as allergens, that are typically harmless to most people.

Conditions

Circumstances or factors affecting the way in which people live or work, especially with regard to their safety or well-being.

Nurse Practitioner

A registered nurse with advanced academic and clinical experience, which allows them to diagnose and manage most common and many chronic illnesses, either independently or as part of a healthcare team.