If You Deposit $2,500 into an Investment That Grows at 13.2

question 111

Multiple Choice

If you deposit $2,500 into an investment that grows at 13.2% compounded monthly, what will its value be in 17.5 years?

• A) $24,870
• B) $57,750
• C) $21,890
• D) $48,901
• E) $16,211

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Definitions:

Observed Phenomena

Events or occurrences that have been noticed and recorded, especially ones that are unusual or of scientific interest.

Iterative

Pertaining to a process that repeats, usually with the intention of approaching a desired goal or outcome.

Inductive Reasoning

A method of reasoning in which general conclusions are drawn from specific observations or examples.

Deductive Reasoning

A reasoning method where a conclusion is drawn from the agreement of several assumptions that are typically considered true.