Theron Wants to Save $5,000 $200$ Days
B) $400$ Days
C) $6$ Years
D)

question 76

Multiple Choice

Theron wants to save $5,000. If he has $4,000 and invests it at 5% simple interest, how long will it take him to obtain $5,000?

• A) \(200\) days
• B) \(400\) days
• C) \(6\) years
• D) \(5\) years
• E) \(7\) years

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Definitions:

DAX

The Deutsche Aktienindex, a stock market index consisting of the 40 major German companies trading on the Frankfurt Stock Exchange.

German Stock Market

The stock market based in Germany, primarily represented by the Frankfurt Stock Exchange, where securities of German companies are traded.

Index

A statistical measure representing the change in a specified set of data points, often used in finance to track the performance of a group of stocks or bonds.

Wilshire 5000

An index that measures the performance of all U.S. headquartered equity securities with readily available price data.