Sally Has Invested a Constant Amount at the End of Every

question 126

Multiple Choice

Sally has invested a constant amount at the end of every six months for the last 40 years. She has made wise investment decisions and has earned a return of 16.4% compounded semi-annually. Today the value of her savings has reached $2,500,000. What amount has she been investing every half-year?

• A) $91.66
• B) $375.29
• C) $5,834.15
• D) $61,983.84
• E) $205,375.29

---

Definitions:

R

A programming language and free software environment used for statistical computing and graphics.

Significance

The likelihood that an observed effect or relationship in data is not due to chance, typically assessed through statistical tests.

Regression Equation

A mathematical formula that describes the relationship between two or more variables, typically identifying how one dependent variable changes as an independent variable(s) changes.

Y-intercept

The location on a graph where a line or curve intersects with the y-axis.