How Much Would Be in Your Savings Account in 12

question 39

Multiple Choice

How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank pays 5 percent per year.

• A) $2,387.12
• B) $2,491.03
• C) $2,693.78
• D) $2,771.09

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Definitions:

Stable Growth

A phase where a company or economy grows at a steady, predictable rate.

Sales

The total revenue a company generates through selling goods or services, also commonly used to denote transactions in financial markets.

Threat of Entry

The risk existing businesses face when new competitors are able to enter the market or industry.

Existing Competitors

Companies that are currently operating in the same market and competing for the same customers.