Your Father Helped You Start Saving $20 a Month Beginning

question 30

Multiple Choice

Your father helped you start saving $20 a month beginning on your 5^th birthday.He always made you deposit the money into your savings account on the first day of each month just to "start the month out right." Today completes your 17^th year of saving and you now have $6,528.91 in this account.What is the rate of return on your savings?

• A)5.15 percent
• B)5.30 percent
• C)5.47 percent
• D)5.98 percent
• E)6.12 percent

---

Definitions:

Alprazolam

A benzodiazepine drug shown to be effective in the treatment of anxiety disorders. Marketed as Xanax.

Benzodiazepine

A class of psychoactive drugs with sedative, hypnotic (sleep-inducing), anxiolytic (anti-anxiety), anticonvulsant, and muscle relaxant properties.

Xanax

A prescription medication, generically known as alprazolam, belonging to the benzodiazepine class, used to treat anxiety and panic disorders.

Antidepressant Drug

Medications used to treat depressive disorders by altering chemicals in the brain to improve mood and emotional state.