If $500 Is Deposited into an Investment at the End

question 216

Multiple Choice

If $500 is deposited into an investment at the end of every month for five years and the money is then left to accumulate without any more deposits for another five years, what will be the total value of the investment if it earns a rate of 8% compounded quarterly?

• A) $187,103
• B) $104,519
• C) $91,201
• D) $57,026
• E) $54,516

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Definitions:

TATA Box

A component of a eukaryotic promoter region; consists of a sequence of bases located about 30 base pairs upstream from the transcription initiation site.

RNA Polymerase

A crucial enzyme responsible for synthesizing RNA from a DNA template, playing a key role in the process of transcription.

Eukaryotic

Eukaryotic refers to cells that have a nucleus enclosed within membranes, distinguishing them from prokaryotic cells, allowing for more complex biological processes.

Prokaryotic

Describing organisms, such as bacteria and archaea, that lack a nucleus and other membrane-bound organelles in their cells.