You Deposit $1,000 Today and Want to Save $100 Each

question 18

Multiple Choice

You deposit $1,000 today and want to save $100 each month beginning one month from today. Your account earns a 5 percent annual interest rate. How long will it take you to accumulate $5,000?

• A) 29.3 months
• B) 35.7 months
• C) 42.6 months
• D) 52.1 months

Explain the structure and benefits of working in a sole proprietorship for paralegals.

Recognize the importance of consistent computer work backup and outline emergency planning steps.

Describe the purpose and use of client trust accounts, including the paralegal's role and repercussions for misuse.

Discuss the importance of careful filing procedures in legal practice and compare procedures in different firm sizes.

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Definitions:

Computing Environments

A setup of hardware, software, networks, and other technology components necessary for computing operations.

Mobile Device

A portable computing device such as a smartphone or tablet, which has wireless internet connectivity.

Internet of Things

An interconnected system of tangible items equipped with monitoring devices, computer programs, and various technologies designed to communicate and share information with other gadgets and systems via the web.

IoT

Internet of Things, a network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, and connectivity, enabling these objects to connect and exchange data.