Derek Contributed $200 Per Month for Twenty Years at an Interest

question 185

Multiple Choice

Derek contributed $200 per month for twenty years at an interest rate of 3.9% compounded semi-annually. Determine how much interest was earned over the twenty year period.

• A) $24,282.30
• B) $25,282.30
• C) $26,282.30
• D) $27,282.30
• E) $28,282.30

---

Definitions:

Integrator

In homeostasis, a control center.

Effector

(1) A muscle or gland that contracts or secretes in direct response to nerve impulses. (2) In homeostasis, an organ or process that helps restore a steady state.

Set Point

A normal condition maintained by homeostatic mechanisms.

Steady State

A condition where the variables (such as concentration of substances) in a system remain constant over time despite ongoing processes that attempt to change them.