Joanne Invested $15,000 Six Years Ago

question 11

Multiple Choice

Joanne invested $15,000 six years ago. Her arithmetic average return on this investment is 8.72 percent, and her geometric average return is 8.50 percent. What is Joanne's portfolio worth today?

• A)$23,989
• B)$24,472
• C)$26,409
• D)$26,514
• E)$26,766

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Definitions:

Perfection

In the context of secured transactions, perfection is the legal process by which a secured creditor establishes its priority interest in the debtor's collateral over other claimants.

Legal Steps

Sequential actions or procedures that are taken in accordance with law to achieve a legal outcome, such as filing a lawsuit or executing a contract.

Collateral

Assets or property offered as security for the repayment of a loan, subject to seizure on default.

Proceeds

The amount of money received from a sale or transaction, often after deducting costs or expenses.