If You Save $300 Per Month and Earn 9 Percent

question 76

Multiple Choice

If you save $300 per month and earn 9 percent interest per year you will have approximately how much money after 40 years?

• A)$1.4 million
• B)$900,000
• C)$1.7 million
• D)$2.1 million
• E)$3.25 million

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Definitions:

Toggle Switch

A switch that alternates between two states with each actuation, commonly found in electronics and applications requiring binary settings.

Volume Control

The mechanism or system used to adjust the loudness of audio output in electronic devices or sound systems.

Short-Term Memory

The capacity for holding a small amount of information in an active, readily available state for a short period.

Long-Term Memory

A type of memory storage that holds information indefinitely and has essentially an unlimited capacity.