Annuity Interest Rate What Annual Interest Rate Would You Need

question 92

Multiple Choice

Annuity Interest Rate What annual interest rate would you need to earn if you wanted a $500 per month contribution to grow to $27,050 in four years?

• A)2.37 percent
• B)5.77 percent
• C)6.00 percent
• D)13.53 percent

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Definitions:

Glucagon

A hormone secreted by the pancreas that stimulates the release of glucose, thus elevating blood sugar level.

Insulin Level

The concentration of insulin, a hormone produced by the pancreas to regulate blood glucose levels, present in the bloodstream.

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Positive Aspect

Refers to looking at the favorable elements of a situation, emphasizing optimism and constructive outcomes.