Your Mother Helped You Start Saving $25 a Month Beginning

question 71

Multiple Choice

Your mother helped you start saving $25 a month beginning on your 10^th birthday. She always made you make your deposit on the first day of each month just to "start the month out right." Today,you turn 21 and have $4,482.66 in your account. What is your rate of return on your savings?

• A) 5.25%
• B) 5.29%
• C) 5.33%
• D) 5.36%
• E) 5.50%

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Definitions:

Cones

Photoreceptor cells in the retina of the eye that function best in relatively bright light and enable the perception of color and fine detail.

Nocturnal

Pertaining to or occurring during the night; active or awake at night.

Retina

The light-sensitive layer of tissue at the back of the eye that captures images and sends visual information to the brain.

Rods

Photoreceptor cells in the retina of the eye that are responsible for vision at low light levels.