Rebecca Is Currently Working, but Is Planning to Start a College

question 48

Multiple Choice

Rebecca is currently working, but is planning to start a college in few years. For this purpose, she would need $20,000. Today she can start investing $750 monthly in an investment account that pays 6 percent compounded monthly. How long would it take her to have enough money to start college?

• A)28.5 months
• B)27.8 months
• C)25.0 months
• D)22.6 months
• E)30.3 months

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Definitions:

Oral Presentation

A verbal delivery of information or ideas to an audience, often supported by visual aids.

Nonverbal Cues

Forms of communication without words, including gestures, body language, facial expressions, and eye contact, which can convey much about a person's thoughts and feelings.

Active Listener

A person who fully concentrates, understands, responds, and remembers what is being said in a conversation.

Physical Distractions

External factors in the environment that can divert an individual's attention away from the task at hand, affecting their focus and productivity.