Clarence Has Been Investing $1,000 at the End of Every

question 172

Multiple Choice

Clarence has been investing $1,000 at the end of every year at 11% compounded annually. With today's contribution his investment has grown to $44,500. How many years ago did he make the first contribution?

• A) 26 years
• B) 49 years
• C) 17 years
• D) 31 years
• E) 12 years

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Definitions:

Self-reinforcement

The act of rewarding oneself to encourage a behavior or achievement, based on personal standards or goals.

Employee's Supervisor

The person in charge of overseeing and guiding the performance and duties of employees within an organization.

Mental Imagery

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