The Compound Interest Formula Can Be Rewritten As $P = \frac { A } { ( 1 + r / n ) ^ { n t } }$

question 72

Multiple Choice

The compound interest formula can be rewritten as $P = \frac { A } { ( 1 + r / n ) ^ { n t } }$ Find the principal amount $P$ that could have been invested on the day you were born at 4.5% annual interest compounded monthly to make you a millionaire on your 21st birthday.

• A)$243,354.47
• B)$389,367.15
• C)$292,025.36
• D)$194,683.58
• E)$316,360.81

---

Definitions:

IQ Gap

The observed disparity in average IQ scores between different groups, often discussed in the context of socio-economic, racial, or ethnic differences.

Prenatal Care

Medical and health care provided to a pregnant woman to ensure the healthiest outcomes for both mother and baby.

Heritability Estimates

Statistical measures that indicate what proportion of variation in a trait within a population is due to genetic differences among individuals.

IQ Scores

Quantitative measures of a person's intelligence relative to that of others, based on standardized tests.