An Investment of $50 Is to Be Made at the End

question 55

Multiple Choice

An investment of $50 is to be made at the end of this month and that amount is increased by 1% every month for 40 years. The investments are expected to earn 13.2% compounded monthly. What should be the total value of these investments in 40 years?

• A) $3,607,093
• B) $862,680
• C) $1,847,397
• D) $997,481
• E) $2,646,194

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Definitions:

Otitis Externa

An inflammation or infection of the outer ear canal, often referred to as "swimmer's ear."

Perception

The process of organizing and interpreting sensory information so that it makes sense.

Sensory Information

Data that is perceived by the sensory organs, such as eyes, ears, skin, and then processed by the brain to make sense of the environment.

Consciousness

The state of being aware of and able to think about oneself, one’s surroundings, and one’s thoughts and feelings.