Aiso Deposits $130/month in a Savings Account Paying 5% /Year

question 156

Multiple Choice

Aiso deposits $130/month in a savings account paying 5% /year compounded continuously. Estimate the amount that will be in his account after 5 years. Round your answer to the nearest dollar. ​

• A) $8,862
• B) $10,096
• C) $4,541
• D) $11,005

---

Definitions:

Credit Union

A member-owned financial cooperative that provides traditional banking services.

Bankruptcy Abuse Prevention

Bankruptcy abuse prevention refers to legal measures designed to prevent individuals or businesses from exploiting the bankruptcy system to evade legitimate debts.

Consumer Protection Act

Legislation designed to safeguard the rights of consumers by ensuring fair trade, accurate information, and the right to privacy.

Credit Counseling

A service that provides assistance to individuals in managing their debts, budgeting, and making financial decisions.