If the Current Rate of Interest Is 8% APR,then the Future

question 47

Multiple Choice

If the current rate of interest is 8% APR,then the future value of an investment that pays $250 per quarter and lasts 20 years is closest to:

• A)$18,519.
• B)$48,443.
• C)$9936.
• D)$20,000.

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Definitions:

Ethnic Group

A community or population made up of people who share a common cultural background, ancestry, or national origin.

Cultural Beliefs

The shared beliefs, values, and practices that are learned from society or a community and influence an individual's actions and decisions.

Racial Culture

The shared beliefs, practices, and customs associated with a particular racial or ethnic group.

Multicultural

Relating to, or constituting several cultural or ethnic groups within a society.