On Your First Through Fifth Birthdays Your Parents Placed $2,000

question 94

Multiple Choice

On your first through fifth birthdays your parents placed $2,000 into your college fund (five total deposits of $2,000 each) .The account has earned an average of 8.0% per year until today,your twentieth birthday.How much money is in the account today?

• A)$11,733.20
• B)$37,219.70
• C)$12,671.86
• D)$25,383.41

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Definitions:

Oceanic Crust

the part of the Earth's crust that underlies the oceans, thinner and denser than continental crust.

Upper Mantle

The upper mantle refers to the portion of the Earth's mantle that lies just beneath the crust, extending down to a depth of about 660 kilometers, involved in tectonic movements and convection currents.

Lower Mantle

The deeper section of the Earth’s mantle extending from 670 kilometers below the surface to the outer core, characterized by high pressure and temperature.

Continental Ice Sheets

Massive layers of ice covering large areas of continental land, primarily in polar regions, formed from accumulated snowfall.