Annuity Interest Rate What Annual Interest Rate Would You Need

question 81

Multiple Choice

Annuity Interest Rate What annual interest rate would you need to earn if you wanted a $200 per month contribution to grow to $14,700 in 5 years?

• A) 6.47%
• B) 7.76%
• C) 8.00%
• D) 14.70%

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Definitions:

Computer-Consulting

A service industry focused on advising businesses on how best to use information technology to meet their objectives.

New Clients

Refers to customers or clients who have recently started using a service or buying goods from a business.

Probability Distribution

A mathematical function detailing every potential value and their probabilities that a random variable can assume over a specified interval.

Computer-Consulting

A service field that provides expert advice and solutions in information technology to businesses and individuals.