​You Have Just Deposited $5,000 into an Account That Pays

question 240

Multiple Choice

​You have just deposited $5,000 into an account that pays 8% after taxes. If you make no additional contributions. How much more will your account be worth when you retire in 40 years than it would be if you waited 10 years before making this deposit?

• A)​$728,870
• B)​$58,309
• C)​$108,623
• D)​$566,415

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Definitions:

Turns Ratio

The ratio of the number of turns in the primary winding to the number of turns in the secondary winding of a transformer, determining its voltage transformation characteristics.

Primary Voltage

The voltage at the input of a transformer or any primary side of an electrical system.

Primary Phase Current

The initial or main current flow in one phase of a system before splitting into secondary phases or circuits.

Resistive Load

An electrical load that consumes energy in the form of heat or light, behaving according to Ohm's law.