Suppose That You Place $450 in a Bank Account Each

question 121

Multiple Choice

Suppose that you place $450 in a bank account each year for the next 20 years.How much would be in your bank account at the end of the twentieth year if the deposits earned an annual rate of return of 6% each year?

• A)$9,540.00
• B)$10,876.31
• C)$14,729.44
• D)$16,553.52

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Definitions:

NADPH

A coenzyme known as nicotinamide adenine dinucleotide phosphate plays a crucial role in anabolic reactions by serving as a reducing agent during biosynthetic processes.

ATP

Within cells, the molecule adenosine triphosphate is crucial for energy conveyance essential for metabolic functions.

C4 Pathway

A photosynthetic process in some plants that captures carbon dioxide in a four-carbon compound, allowing them to thrive in high temperatures and light intensities.

Photosynthesis Efficiency

The ability of plants to convert light energy from the sun into chemical energy stored in organic compounds with minimal energy loss.