Amy Contributed $170 Per Month for 10 Years to an Account

question 61

Multiple Choice

Amy contributed $170 per month for 10 years to an account that paid 5% for the first 5 years, but 6.7% for the last 5 years.How much has she saved?

• A)$28,233.35
• B)$26,988.78
• C)$28,223.34
• D)$28,235.34

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Definitions:

Declare Dividends

The action by a company's board of directors to distribute profits to shareholders.

Par Value

The face value of a bond or stock as set forth in its certificate.

Two-For-One Stock Split

An action by a company to increase its number of shares by dividing each existing share into two, often to make the stock more affordable.

Common Stock

A form of corporate equity ownership, a type of security representing an ownership interest in a corporation.