What Annual Interest Rate Would You Need to Earn If

question 21

Multiple Choice

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

• A) 6.47 percent
• B) 7.76 percent
• C) 8.01 percent
• D) 14.70 percent

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Definitions:

Parents

Individuals who act as guardians or caretakers for children, providing emotional, physical, and social support.

Phenotypes

The observable characteristics or traits of an organism, resulting from the interaction of its genotype with the environment.

Traits

Characteristic features or qualities that define an individual or species.

Dizygotic (DZ) Twins

Twins that derive from two zygotes; fraternal twins.