You Deposit $\$$ 5000 in an Account with an Annual Interest Rate of Interest

question 1

Multiple Choice

You deposit $\$$ 5000 in an account with an annual interest rate of change r (in decimal form) compounded monthly. At the end of 5 years, the balance is $A = 5000 \left( 1 + \frac { r } { 12 } \right) ^ { 60 }$ . Find the rates of change of A with respect to r when $r = 0.08$ .

• A)7449.23
• B)443,993.75
• C)620.77
• D)36999.48
• E)36,754.45

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Definitions:

Quintiles

Statistical values that divide a set of data into five equal parts, so that each part represents 1/5th of the sampled population.

Percentage Shares

Represent the portions or fractions, expressed as a percentage, of a whole divided among entities or allocated for specific purposes.

Poverty Line

A calculated income level used as a threshold to determine the minimum amount of income a family or individual needs to afford basic living expenses.

Poverty Rate

The percentage of the population that lives below the poverty line, indicating the level of economic deprivation in a community.