Your Grandfather Started His Own Business 52 Years Ago

question 102

Multiple Choice

Your grandfather started his own business 52 years ago.He opened a savings account at the end of his third month of business and contributed $x.Every three months since then,he faithfully saved another $x.His savings account has earned an average rate of 4.5 percent annually.Today,his account is valued at $364,209.11.How much did your grandfather save every three months?

• A)$425.15
• B)$428.67
• C)$431.09
• D)$443.13
• E)$462.25

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Definitions:

Light Bulbs

Electric devices used to produce light from electricity, typically found in homes, workplaces, and various devices.

Past Participle

A verb form that is typically used in perfect tenses and passive voice, often ending in -ed, -en, or another form depending on the verb.

Historical Insights

Understanding or knowledge gained from studying or analyzing past events.

Peat

An accumulation of partially decayed vegetation or organic matter that is unique to natural areas called peatlands or mires.